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Thursday, September 15, 2011

Elliott wave analysis on EUR/USD; Gold and Crude Oil

EUR/USD - The correction since 134.99 is ongoing and after breaking clearly above 137.46 ´the next obvious target area between 138.23 - 138.35. When this correction is done, we should see a new nosedive towards 133.60 with 130.50 as next target.


Gold - Nothing new to add here. We are still hoovering above support at 1,795. I still look for a break below 1,795 to trigger a decline towards 1,666 area.

Only a break above 1,885.50 will invalidate my bearish stand.


Crude Oil - Nothing new to add here either. I'm still looking for a clear break below 87.30 to accelerate the decline towards the 72 target area.

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