FX.co ★ Wave analysis of the EUR/USD for November 12, 2010

Yesterday the EUR/USD restarted the downtrend against the Euro. Amid this, the Wednesday low which corresponds to 1.3735 is likely to be an end of the 1-wave (or а) of the developing downward movement. At the same time, it is worth pointing out that the 5th wave mentioned yesterday in the first 1st (or a) can take more complicated form around the rate of 1,3585. If it so this level will appear as a regulating one for determining further prospects of the currency pair.