Euro

The Euro is the main component of the dollar index and it shows that we are in wave 3 after a breakout from a triangle. It is now possible to mark wave 3 as complete unless the recent high is surpassed and what we should get is a wave 4 consolidation. The recent high is at 1.1915. A 38.2% retracement is at 1.165 to start with. Ideall wave 4 will complete within that retracement but could take a few weeks to do so. The dollar should also consolidate in wave 4 then.