FX.co ★ EUR/USD wave analysis for March 7, 2011

After a dynamic advance on Thursday the EUR/USD currency pair took a pause and was trading in a quite narrow range slightly below the 40 figure level. At the same time, we can suppose at a stretch that the Friday’s high completed the formation of the 3rd wave in the 3rd (in the C). If so, then after a decline in the range of the future 4th wave the price might resume the growth in the direction of the 1.4100 level, thus completing the 3rd wave in the estimated C.