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Thursday, May 31, 2012

EURUSD Forecast (31 May 2012)

 

1H Chart

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Prices for EURUSD like the one for USDJPY has made a nice run down.  I find the waves for EURUSD getting more difficult to count, but I suspect that the wave has not yet completed its 5 waves.

There’s a rounding bottom reversal, and price looks quite strong on the upside.  I’ll be cautious and take partial profits, or exit all together and look for new opportunities.

Good luck with your trading!