EURO update

The Euro crashed even below the 1.44 support and is now on its way to test the 1.4150 support which should stop the move and mark the low of this wave down. We also have produced a weekly reversal and we can expect more correction to com as we did not make it to the 1.51 level. This correction could go as low as 1.33/4 as Mercury heliocentric has left Sagittarius which marks usually a turn in currency trends.  Look for a bounce from the 1.4150 level but a minor support comes already in at 1.4280 but that should hold no longer than to the 12 th next week as we will have 2-3 benign days around the 11th before more bad news will drag markets lower around the Full Moon 17th.

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~ by behindthematrix on May 6, 2011.

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