EURUSD—three-hour chart

On the shorter-term 3-hour chart, one can trace five waves down and the a and b of an abc correction. If this interpretation is correct, then c is starting which could carry it near the top of the downward channel (1.3670 or thereabouts). I bought at 1.3517. As long as 1.3485 holds, this seems reasonable.

Here's the three-hour chart:












© Dianne Fecteau, 2011. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

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