Wednesday, September 14, 2011

Eur/Usd : Bearish flag

The count i've been following is on track. 1 more low would finish a 5th wave in an impulsive wave. This impulsive wave is a wave C of Y. The exact fibonacci numbers were not completly correct in the previous post since i was looking at daily candles. The zones were still pretty much the same however. An alternative is that the decline has allready finished and price is just starting a corrective rally that will retest the broken daily trendline.

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