FX.co ★ EUR/USD wave analysis for April 26, 2011

During yesterday’s trading the EUR/USD moved further in the range, which however was wider than on Friday. At the same time we might suppose the price formed a quite complex b wave in a more continuous 2nd wave (in the 5th) of the whole uptrend section initiated in the middle of December. If so, in the range of the с wave in this 2nd the euro still might decline to the correction level 38.2% or even 50.0% (1.4400)