FX.co ★ EUR/USD wave analysis for March 18, 2011

During yesterday’s trading the EUR/USD managed to gain more than 150 pips and tested the 1.4030 level corresponding with the March 7 high. At the moment the general wave situation is becoming clearer and allows the possibility of the uptrend to conrinue in the range of the 3rd wave, in the 3rd (in the estimated 3rd, or C). At the same time, given current high volatility on the market it is difficult to predict both targets for such trend and its temporal component.