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We remain long on EUR/USD, I decided to go long because I believe EUR/USD will get a boost from the falling dollar. You know the Fed is increasing the money supply, this is negative for the dollar. Plus the technical pattern is bearish. The positive for the dollar is that the US economy is stronger than the EU economy but this is about to change.
When I look at the EUR/USD chart we have a two-year decline in five waves that ended on October 1st.

This pattern is an ending diagonal. After five waves down the euro should rally in five waves [1,2,3,4,5], I think a long term rally is underway. The first bounce wave wave 1, the latest pullback was wave 2 seen on the 120-min chart:

We have a perfect Elliott wave inside wave 2, wave 2 is in three waves [a,b,c (circle)] and wave c (circle) is in five waves and there is an extension in wave (v). EUR/USD is now rallying in five waves as the trend is up.
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