FX.co ★ EUR/USD wave analysis for February 3, 2011

During yesterday’s trading the EUR/USD declined from the Tuesday’s highs (1.3865). In general, inner wave structure of the 5th wave in the estimated A can be considered complete at some stretch. If so, it is likely that this decline will continue in the direction of the 36 figure or lower. At the same time, there is still a possibility for the euro to advance further to the correction level 76.4% or even above the 1.4000 level.