FX.co ★ The EUR/USD wave analysis for January 13, 2011

The EUR/USD currency pair has extended its upward movement in the range of the estimated correction. At the same time, yesterday’s dynamic movement allowed the price to advance more than 1.5 figures from the opening. However, it should be mentioned that if the corrective scenario applies, targets for the с wave of the estimated 2nd (or b) can be located near 1.3155 and 1.3220 (correction levels 50.0% and 61.8% respectively). Moreover, the formed MACD divergence allowing a more continuous development of the current upward section should be highlighted.