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Wednesday, October 5, 2011

Elliott Wave analysis on EUR/USD

My preferred count is, that we are now working on wave 2, which ideally should correct higher towards 138.57, where we will find the 50% retrecement target of wave 1 and close to the top of wave iv of one lessor degree.

It seem as we currently is building a small inverted Shoulde/Head/Shoulder bottom, which should trigger a rally towards 136 if 133.81 is broken.

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