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Tuesday, April 1, 2014

Elliott wave analysis of EUR/USD - Short and medium term counts

 
EUR/USD

As long as important support at 1.3643 protects the downside the above count is my preferred count. I'm currently looking for a break above minor resistance at 1.3875 confirming a new rally above the former top at 1.3967 for a continuation towards at least 1.4089 and possibly even higher towards 1.4212.

Only a break below important support at 1.3643 indicates that the E-wave of the major triangle already is in place and a new powerful decline should be expected.

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