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Thursday, January 30, 2014

EUR/USD - Look for acceleration lower soon.

EUR/USD

The overlapping structure has continued, this behavior is not consistent with a series of wave one's and two's, therefore I have changed my short term count slightly, showing a leading diagonal as wave i (my previous alternate count).
I'm still looking for acceleration towards the downside for a move lower closer to 1.3500 and maybe even lower in wave iii.

Short term expect minor resistance at 1.3644 for a clear break below 1.3603.

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