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Wednesday, January 22, 2014

EUR/USD - Look for a break below 1.3516 to confirm that wave iii is developing.

EUR/USD

We saw a perfect rally to 1.3580 in wave ii and I'm now looking for a break below 1.3516 to confirm that wave iii lower towards 1.3270 is developing.
As long as support at 1.3516 protects the downside, this wave ii correction could become more complex, but this outcome is less likely.

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