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Wednesday, June 24, 2009

Midday Wednesday

I'm adding an up date to this midday update. Technically we just overlapped (wave i) a couple minutes ago with (wave iv). 897.37 by 896.42 so in theory this count is not correct. I'll have to think a bit longer on this but I wanted to keep it up to date and correct.

The Daily chart shows the Kumo is offering resistance.

I've relabeled the EW chart to reflect the bottom of Intermediate B at 888.86. It appears we are on our way to finishing Primary 2.
This correction is approaching the 200 day ma, and the R1. I expect both to offer resistance. along with the lower trend line. If the top trend line is broken we will be on our way up as I've indicated with the pink line.

Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

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