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

In general, as expected, during yesterday’s trading the EUR/USD currency pair declined to the correction level 38.2%; afterwards it made an attempt to resume growth by reaching the 45 figure level by the end of the day. Therefore, the price has most likely completed the formation of the 4th wave (in the 5th). If so, then such resumed growth of the price has indicated the beginning of the 5th wave (in the 5th), at the same time targets for this 5th may be located in a quite wide range from the levels located slightly above the 45 figure level and up to the 1.4700 level.