FX.co ★ Wave Analysis of EUR/USD for August 25, 2010

The EUR_USD pair was behaving very dynamically yesterday. The outlined on the eve continuation of the formation of the 3rd wave structure in the 3rd (or C) was finished near the level of 1.2585, thereafter the price rapidly reaches the high of the 4th wave in the 3rd. Thus, considering the 1st wave dimension, it is possible to wait for the rates decline to 1.2470 or to 1.2445, where the correctional level of 76,4% is found. Moreover, it should be mentioned that taking into account the current demand in the US dollar, one should not exclude the lowering of the quotes to the level of the 23rd figure (88,6% of correction and equality of the waves 1 or A and 3 or C).