FX.co ★ EUR/USD wave analysis for January 26, 2011

The EUR/USD currency pair continued formation of the 4th wave in the estimated с of the whole upside movement developed since January 10. At the same time, given the current wave situation and the deep dive of the price compared to the 3rd wave in this c, we might expect rapid continuation of the uptrend in the range of the future 5th (in the c). Now we should only wait until we see, from which of the target levels indicated on the graph, the euro will start declining.