Euro forecast as of 11/11/2008
EURUSD – Elliot shows that last week’s complete Impulse (IM) was Zig-Zag (ZZ) 1st wave. Last weeks FL is completed and was the ZZ 2nd wave and the market is in the process of ZZ 3rd wave in the range of 1.0215 – 1.1978 between November 19th and December 30th. . Market move above 1.30 makes it more likely that move up has not been completed.
Zig-Zag is a three wave pattern, where 1st and 3nd wave is Impulse and the 2nd wave is corrective in nature.
November 11, 2008 10:26 pm 
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