FX.co ★ EUR/USD wave analysis for April 27, 2011

After another test of the correction level 23.6% the EUR/USD made an attempt to resume upside movement. At the same time, passing the resistance at 1.4650 took most of the day. Nevertheless, at the moment we can suppose that the price started froming the 3rd wave (in the 5th). If so, given the limits of the channel where the current uptrend is developing, the closest target for this 3rd wave might be located between levels of the 47 and the 48 figures.