Analysis for November 24th, 2011
We may assume that after several days of consolidation the price started wave  of 3,
which is now in the very beginning of the formation. Within the next several days we can expect the price to reach a new local minimum. The short-term target for the bulls is the level of 0.9400.
At the H1 chart we can see that wave 
has been completed as a usual zigzag
pattern with wave (B)
in the form of horizontal triangle
inside it. On the minor wave level the price started forming initial rising waves. The price may continue growing during the next several days.
As we expected, Euro started the formation of wave (3) of [C]
. Earlier, the price completed an initial descending wedge
pattern in wave (1)
. In the near term, the descending movement may continue. Within the next several days the bears may reach the level of 1.3100.
has been completed in the form of irregular double three
pattern in wave X
. Currently the price is forming the first descending wave in wave (3)
. During the next several days we can expect the price to continue falling down.