FX.co ★ EUR/USD wave analysis for April 13, 2011

During yesterday’s trading the EUR/USD pair finally tested the 45 figure level and, despite further rollback, demonstrated the intention of the euro to resume the uptrend. In this relation the whole wave situation, developed since March 11, requires certain precision. Given all this, we might suppose that the target for such upside movement might be the levels between 1.4650 and 1.4700. If so, the price might correct, supposedly, from yesterday’s highs, thus indicating the end of the 3rd wave, in the estimated 5th, of the whole uptrend section.