peter, on Euro F/X futures contract, counting from that "big" up day on 2/10/05, today is the 13th day (or 14th day starting with 2/9/05 IF the low was 2/8/05), so, it is possible/likely that we are right in the process of putting in the 12-14 day cycle low - and perhaps it's doing a "flat" wave the last few days.
so, it should go further up, but of course it has to rally the next few days.