EUR/USD wave analysis for February 24, 2011

Yesterday the EUR/USD currency pair continued recent advance, slowly approaching early month’s high. As a result, current wave situation allows supposing that Tuesday’s low 1.3525 is the end of the e wave of the complex wave structure initiated February 2. However, its shape looks rather simplified. At the same time, if the e wave is completed, we can expect the euro to advance in the direction of targets above the 39 figure.