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Did Euro Form A Major Reversal At 1.3480?


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Mar 01 2012

Euro tested the weekly highs yesterday around 1.3480 before market reversed sharply lower during the US session. Notice that price broke through an importnat trend line of a wave C) advance, which suggest that at least temporary top is in place, where wave 5 was truncated. If we are correct, then of-course we now need impulsive larger five waves of decline, towards support channel line, which will confirm the larger bearish picture for the Eur/Usd.

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