CURRENCY CENTRAL (fka )

[tnm]

Euro:

It looks as though the euro is 40 months along a 54 month cycle, which is about 4.5 years. From the March 2002 low the first of the three 18 month cycles ended in aug/sep 2003, the second cyle looks like it ended last month. I can't say for certain when that will end, because I'm not yet sure how the compressed trading days affects the longer cycles. I'll be watching with interest