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Monday, September 5, 2011

Elliott wave analysis on EUR/USD; Gold and Crude Oil

EUR/USD - We are at the next important support here at 141.17 a break below here we be the next indication, that we saw a truncation at 145.46, but we still need a break below 140.54 to get the hard evidence we need to confirm the truncation.


Gold - The B-wave has become slightly bigger than I first suspected. There should be no doubt now, that we are looking at a flat correction and therefor we must accpet a move closer to 1,911.09 before the next decline in wave-C stes in. A break below 1,870 will be first indication, that wave-B is over, while a break below 1,838 confirms.


Crude Oil - The decline from 89.87 is looking nice and impulsive. We should seen a break below 83.08 to accelerate the decline towards my target near 72.

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