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

Yesterday the EUR/USD currency pair resumed upside movement from the 1.3750 level. Meanwhile, during such advance of the price the inner wave structure of the C wave of the whole uptrend initiated January 10, is formed. If so, at the moment the price is moving in the range of the 4rd wave (in the C) that can continue up to the 42 figure level. At the same time, the above mentioned MACD divergence remains, which does not allow us to be sure about dynamic development of the upside movement.