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Thursday, 8 July 2010

15:08 BST - Dollar Update

This looks like an interesting possibility for an end to the decline in the dollar - an ending diagonal for wave v of [iv] of minor 3:

Dollar 60 min:

 

If its right, there's still room for wave [5] of the ending diagonal to move lower, as long as it doesn't exceed the length of wave [3], so watch out for the possibility of a new low. Moving above the wave [4] high should mean the diagonal is complete.