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Friday, January 31, 2014

EUR/USD - After a shallow correction look for more downside towards 1.3480.

EUR/USD

Wave (iii) is likely in place at 1.3533 and we should expect a shallow wave (iv) towards 1.3587 before wave (v) lower towards 1.3480, which also marks the bottom of wave iii.
Longer term I'm looking for a decline towards at least 1.3345 and most likely even lower as wave 3 Begins to accelerate.

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