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Tuesday, 9 October 2012

AUD/USD H4, Daily Update

The recent impulsive wave down unfolded in five waves and hit the bottom right into Fibonacci Time Cluster arrea and bounced up. This bounce looks more like a corrective in nature so far, this is why there are some question marks.

Even on a Gann Fan chart we can see that there is quite strong support for the price. If we break it, next stop is way below parity.


Seb




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