FX.co ★ Wave Analysis of the EUR/USD pair for August 31, 2010

The renewed yesterday decrease of EUR_USD seems to have fixed the ending of the 4th wave in the 3rd (or C). If it proves right, the continuation of the euro rates falling and the formation of the 5th wave in the 3rd (or C) can be awaited. Besides, taking into consideration the inner dimension of this expected 3rd (or C), the first possible target for it can be 1.2545-1.2540, which moreover, corresponds to 61.8% of the current correction. At the same time, any break through the minimum since August 24 opens the way for the pair to the area of 1.2300, where the equality of the expected A and C waves is located.