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EurGbp Friday Morning, April 25, 2008

Monthly chart showing fibonacci extensions going back through 2000.
Two waves up with a long (over 4 years) wedge shaped pause centered roughly at the 1.618 level.
Alpha-beta base built in 2000-2001.
FIrst impulsive wave up reaches 2.618 target in May of 2003.
Current impulsive wave hit 4.236 target this month.
080425-0703-egmonthly-a.gif

Posted by Pure Guesswork on April 25, 2008 9:18 AM |

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