Euro

The Euro is in wave 4 could either be complete as a-b-c or still be forming a triangle which would require waves d and e before the consolidation is complete. The support is near 1.177 and 1.173. On the upside when wvae 5 starts it will be making a major breakout above the trendline from the 2008 top which is at 1.206. This will be significant as it would aid the view of a long term trend reversal in the Euro and many technicians will take note of it. For now we are consolidating below the line.