EURO/US DOLLAR (August 1st 2011, 1.4350)

The Euro provided two worthwhile Buying opportunities last week; at the start and again at the end. This week the Euro is positioned for a strong advance and once the 1.4535 resistance is cleared, looking for EUR/USD’s Uptrend to accelerate onto 1.4700 enroute to the 1.5050 level over coming days. My Elliott wave count in support of this forecast is shown below.

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Max McKegg

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