Euro forecast as of 12/23/2008
EURUSD – In fact, last week’s wave up was D3 that started off a new “Flat” (FL). Said FL is in the process of 2nd wave in the range of 1.1570 – 1.3085 between January 12th and March 3rd.
Market move above recent highs, might signal that wave up is not complete.
Flat is a three wave pattern, where 1st and 2nd wave are corrective in nature and 3rd, the last wave, impulsive in nature.