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Originally Posted by dkalense
Thanks popoola.
I am headed next to your thread to check out the status of your limit order.
I think we are in the 5th wave of USD move against EUR. It may go lower than 1.2864 before expiring... or it may end truncated. The GDP data allowed me to grab a quick 6 pips but we are now sandwiched against Construction Spending & Chicago Purchasing... so I bailed out. The inflation data being very good in GDP report has me concerned about the status of this 5th wave.
Big Picture- we are still in a downward trend in EUR/USD... but we are just ahead of an abc correction to that trend. dkalense.
still down for the week by 5 pips.
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10:28 CT I believe the abc EURUSD correction has begun.
I have bought EUR @ 1.3010
SL @ 1.2985
TP @ 1.3043