Euro forecast as of 08/18/2009
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 14th .
Market move above 1.44 makes it more likely that DZ 3rd wave has started.
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Double Zig-Zag is a three wave pattern, where 1st and 3nd wave is Zig-Zag and the 2nd wave is corrective in nature.