FX.co ★ EUR/USD wave analysis for March 14, 2011

An attempt to overcome the correction level 50.0% and the news from Japan have thrown the EUR/USD currency pair up by 1.5 figures to the 39 figure level. As a result of this, the whole March 7-11 decline looks now like a correction structure abc, thus assuming upside movement with the price reaching early highs (1.4035) and forming a new continuous uptrend section. At the same time, given the information from Japan, it is difficult to predict the situation on the market in such conditions.