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This squeak is normally caused by a bad bearing in the wheel. In order to provide you with the correct wheel, I will need your serial number. The following link will take you to our Precor EFX 546 page.
I think you should make quite certain at the mechanics' that it is the struts and mounts knocking, and not the lower main ball joints. However worn strut top mounts are the most likely cause.
You don't say where you are but in the US $1000 should get you new struts and mounts both sides, albeit not a top name brand, and a necessary wheel alignment also.
You should not just replace only one side as that will degrade the handling and steering of the car.
Get someone else to bounce the car while you lay on your back and look. We have no idea what the problem can be and you could have left a lot of stuff loose under there. Maybe you didn't tighten everything up. Check it with a friend bouncing the car.
It could be the input drive bearings going out. I would suggest removing the back side covers of the unit and inspecting the drive assembly when its in use. Watch for deviations in the the circular motion of the crank arms. If it moves side to side or drops in the rotation its time to have the input replaced.
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