FX.co ★ EUR/USD wave analysis for March 31, 2011

During yesterday’s trading the EUR/USD currency pair made attempts to develop its gains in favour of the euro. However, quite strong resistance level near 1.4130-1.4140 prevented the price from forming a new upside section. As a result, another series of waves abc was indicated, which allows both a continuous growth of the price, and the resumption of downside movement with forming of more complex and continuous correction structure.