FX.co ★ EUR/USD wave analysis for March 1, 2011

Yesterday the EUR/USD pair resumed upside movement, tested the 1.3850 level and rolled back to the 38 figure level afterwards. At the same time such attempt of growth has continued formation of inner wave structure of the estimated C wave. If so, the price fixating above the February 2 high (1.3865) might allow the euro to reach the closest possible target at 1.4050.