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Monday, November 1, 2010

11/01: CHART OF THE DAY


Subwave e now underway since hourly divergence halted subwave d earlier. The estimated range to complete the 5-wave triangular pattern lies in the 1.3780/1.3830 range. The borders of this symmetrical formation now serve as clear breakout barriers. Meanwhile, the USD/JPY remains dangerously close to the psychological 80 level.

STRATEGY: LONG EUR/USD from 1.3780 MET TARGET (1.3962/1.4023)