Dec. 15 post, Dollar Rules
and Weak Euro and More To Come from Dec 21st.
So most potential wave counts put the Euro this Sunday morning in the a very minor consolidation , most likely within a -3- of 3 down (though it could be subdividing again).
Below is one possible count with a running -2- wave correction. Notice the c=a, and the b wave overlaps and chop.
The next significant support is the .618 retrace of the entire B wave move up and that comes in around 1.34. However if we're right in the middle of a Euro collapse after falling roughly .15 that will get sliced through in short order.
click to sharpen.
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Greek Ouzo crisis escalates into global margin call as confidence ebbs By Ambrose Evans-Pritchard
Published: 5:46PM GMT 07 Feb 2010Comments 24 | Comment on this article
Barclays Capital says the net external liabilities of Greece are 87pc of GDP, or €208bn (£182bn). Spain is worse at 91pc (€950bn), and Portugal worse yet at 108pc (€177bn); Ireland is 68pc (€123bn), Italy is 23pc, (€347bn). Add East Europe's bubble and foreign debts top €2 trillion.....Excellent recap by the ever entertaining Ambrose Evans-Pritchard .
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