FX.co ★ EUR/USD wave analysis for April 28, 2011

As expected, the EUR/USD passed the 47 figure target level and resumed dynamic upside movement after Bernanke’s speech. At the same time, the price continued to form inner wave structure of the 3rd wave (in the 5th). Besides, it should be mentioned that break of the 1.4700 level will allow the euro to grow to the targets located near the 51 figure level, and further up to 1.5500.