Looks like my skepticism of the USD bull move was well founded, and over the last session the US Dollar Index pulled back swiftly from its recent high. I've reviewed my charts and the 3 wave move that just didn't seem to fit in with anything can actually be taken as an ending diagonal. In the chart above I have labeled what I now think is going on in the pair. This fits in well with my AUD/USD and NZD/USD counts from yesterday which I still believe to be correct.
Wednesday, November 4, 2009
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