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Friday, February 21, 2014

EUR/USD - Is the expanded wave 2 in place?


EUR/USD

If wave 2 is in place at 1.3773 we will need to see a break below support at 1.3685 and downside acceleration soon. As long as support at 1.3685 protects the downside we could still see wave 2 slightly higher towards 1.3804, but once this expanded flat wave 2 is over we should see an extended wave 3 lower towards at least 1.3121 and possibly lower.

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