FX.co ★ EUR/USD wave analysis for February 2, 2011

Break of the 1.3755 level cancelled the corrective scenario of the current upside movement. In this respect growth of the euro, developing since Monday, can be considered as the 5th wave in the range of the upside section, initiated January 10. At the moment it is quite difficult to predict possible targets for this 5th, which should not be longer than the formed 3rd.