Yesterday’s call was for “… the bounce off the low to continue as wave-c completes”. Wave-c of an unfolding wave-4 triangle completed yesterday and now most or all of wave-d down is done as well. Once this coil is done then we’ll look for a decline to the Nov ‘13 pivot low at 1.33 where wave-(1)=(3). S/t, key support is now 1.3336 and resistance is 1.3415; above the latter we have to consider an alternate pattern/count. Further range bound trading is expected ahead of a new decline. Conviction: Med/High Levels: Support – 1.3333, 1.3300, 1.3200 Resistance – 1.3415, 1.3433, 1.3480
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