FX.co ★ Wave analysis of EUR/USD for 16 June 2010

Yesterday’s breakthrough of 1.2320 by the price confirmed the end of the part of 15 figures of the downtrend, forming between May 2 and June 8. Besides that, the euro transition into the stage of the prolonged correction, at the first step means the growth to 1.2550. At the same time, considering the solid third wave of downward trend, the target of dynamic correctional growth of the single currency can be the level of 1.2800.