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Sunday, August 16, 2009

EUR/USD - Minor wave (iii) down to 137.50 is under way


(click at the pictures to enlarge)
My favorit count suggest that an important top was found on August the 5'th with the peak at 144.46. Since then we have terminated minor wave (i) and minor wave (ii) and are in the very begining of minor wave (iii) which should take us down close to 137.47.
Only a surprice move above 143.27 will tell something else is going on and I will have to alter my count.
If the US-dollare has bottomed for now, do expect most commodities to be pressured down especially gold and oil. A stronger US-dollar will add pressure on stocks too.






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