Euro forecast as of 06/30/2009

EURUSD – Elliott shows that market is in the process of  “Double Zig-Zag” (DZ) 2nd wave in the range of 1.3093 – 1.3846 between July 1st and September 11th .

Market can move up and make even new recent highs with out invalidating this pattern.

EURUSD5_090630_Blog

* Click on chart to view larger image and print.

Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.

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