Analysis for February 10th, 2012
It looks like the price is forming the fourth wave. The correction may be finished on Friday. After that we can expect the price to start forming wave  of C
. The target for the bulls is at the level of 0.8500.
More detailed wave structure is shown on the H1 chart. Wave 4
has been completed in the form of horizontal triangle
pattern. Currently the price is forming wave (C)
pattern of wave 
. In the near term, we can expect the price to start growing up inside the fifth wave.
After completing double zigzag
pattern in wave (B)
, the price started forming an impulse in wave (C) of 
. On the minor wave level we can see the formation of wave 2
. In the near term, we can expect the local correction to be finished and the price to start growing up inside the third wave.
The pair completed an initial impulse in wave 1
. At the moment the price is forming flat
pattern in the second wave, with wave [C]
inside it. The correction may be finished on Friday. After that we can expect Euro to start growing up while forming wave 3 of (C)