Wednesday, August 17, 2011

Eur/Usd : Resistance

The triangle in the count proposed yesterday could be complete. There are 2 equal legs from the wave D low forming wave E. If the triangle count is correct, price should start a decline that will last for several days and have 1.3506 as target. If the triangle count isn't correct, price should break resistance, which starts at the trendline and previous highs around 1.4470. A possible target would then be 1.4753.


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