FX.co ★ EUR/USD wave analysis for January 21, 2011

Having initiated a rollback from the Wednesday’s high 1.3540, the EUR/USD pair is trying to form first waves of the future downward section which can be considered as a corrective structure. At the same time such downside movement might develop in the direction of the correction level 50.0%, which was calculated based on the whole growth of the euro in the section between January 10 and 19.