FX.co ★ Wave analysis of EUR/USD for June 18, 2010

Yesterday, the EUR/USD price rose by one more figure. Thus, despite the overbought of the indicators, the euro keeps on strengthening its positions against the US currency. At the same time, the formation of wave structure of rising correction is continuing, which can either shape in the correctional abc in case of its accelerated working-off or develop five waves of more prolonged correctional structure. After the finishing of the current local uptrend it will be possible to speak about further perspectives and determine a level where it set the top.