EurUsd is declining in a large degree A-B-C pattern. Stated another way, the decline from December 31st, 2004 is NOT a 5-waver down!
Trying to put 5-waver labels on the run into 1640 will engender considerable difficulty later on.
It is best that one resolves these difficulties asap and has plenty of powder ready for the large degree wave C down, which is yet to come, perhaps later this year -- we are still a ways from this, but preparation is the ticket here.
Any which way you cut it, EurUsd ain't in a '5' down!
:) Peace brothers!
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