$EURAUD (10.18.2013)

Wave ( b ) is taking the form of a triangle and appears to have completed @ 1.4225.   Expect a test of 1.4048 to complete a cycle from 1.4560 and a corrective bounce in the pair. Hourly cycles are negative so we don’t like buying the pair even after wave A has completed unless we see a 5 wave move up from the lows.

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