Tuesday, July 21, 2009

EURUSD

Here is an update to the EURUSD cross. Notice the beautiful ending diagonal of its C wave to complete E.

The triangle targets 1.46516. Remember that a triangle precedes the final actionary wave of 1 larger degree. This is a 4th wave triangle, which means when EURUSD completes its 5th from the thrust out of the triangle, you can expect price to head south.

This fits very nicely with the dollar's current structure.

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