FX.co ★ EUR/USD wave analysis for March 25, 2011

As expected, the EUR/USD price declined to correction level 50.0% and made an attempt to resume upside movement in the direction of early highs. Thus, yesterday’s testing of the 1.4060 level has probably indicated the completion of the 4th wave, in the 3rd (in the 3rd, or C). If so, the development of the 5th wave in this 3rd will be directed to the first target level 1.4260.