FX.co ★ The EUR/USD wave analysis for December 27, 2010

On the edge of the holidays the EUR/USD has been almost flat and the price has been moving along the line near the level of the 31 figure. At the same time the euro is most likely to be in the limits of the 2nd wave in the 3rd (5th), that has been forming in the new section of the downtrend developing after December 14th. However, it is quite difficult to estimate further market behavior. Although, the dollar has certain advantage in the current situation.