FX.co ★ Wave analysis of the EUR/USD for October 29, 2010

Probably, Wednesday's minimum is an end of the c wave in the current correction. In such a manner, the situation with the EUR/USD pair develops following the correctional scenario implying a formation of a horizontal triangular structure. If so, then the euro rates upturn started yesterday takes place within the d wave of such triangle towards the 40th figure level.