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Wednesday, April 25, 2012

Elliott wave analysis on EUR/TRY


EUR/TRY - Are we finally ready to break below the minor support-line since the 228.49 low?
It looks like it and a break below (close below) will call for the next serious decline towards the double top target near 221.25. Ideally we will reach the 221.25 target around May 7. but lets see how the decline unfolds.

The coming decline will be wave 5 down from the 258.89 top in late August 2011.

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