FX:EURUSD   Euro Fx/U.S. Dollar
71 0 2
Both possibilities as usual exist. Either the EUR has completed a B of wave 2 and we are in the middle of the wave C that could go to 1.05 range to complete 2 for a impulsive wave 3 for a large wave up in the EURO             that would be drastically inflationary for the US and devalues the dollar.

Or

The later i'd prefer but not sure because of the larger trend. We could have completed a E wave in a triangle and are headed to another strengthening of the dollar. That could cause a healthy deflation but, im not sure with the fed trying to stave off deflation how much room is there to run for the deflation.
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