2011-05-31 - eurusd - little drop in short term?

This is the first post on this blog, so at the beginning I would like to present it to you. I will post my analyses, generally using elliot waves tool, about forex market and s&p 500 index.

Today I will analyze pair eurusd. 

Let's look at the D1 chart:

We can see 5 waves rally started in the and of December and ended at the beginning of May. Now, we are in three waves correction. Wave (A) has ended and now eurusd is gaing value in irregular wave (B). It's clearer on H4 chart:

Waves a and b are fully formed, and wave c is ending: it has completed wave 3 (H1 chart):

I'm expecting some drops in wave 4 and then little rally in wave 5. Then wave (C) will started. Probably it will reach 1,3660 points level.