FX.co ★ EUR/USD wave analysis for March 15, 2011

The fact that the EUR/USD price advanced above the 1.3950 level probably indicates the beginning of a new uptrend section. If so, the growth will be limited by its 3rd wave (in the 3rd). At the same time, during Friday-Monday upside movement the first waves of the inner wave in this 3rd wave were formed. The MACD divergence also indicates possible continuation of growth.