FX.co ★ EUR/USD wave analysis for August 16, 2011

In general as expected, but with a little more dynamics, during yesterday’s trading the EUR/USD pair advanced by over two figures having tested the 1.4470 level. At the same time, give the current dynamics we might suppose that the price is forming the 3rd wave in the estimated 3rd (in the 3rd) of the new uptrend section. If so, given the inner wave dimension of this 3rd wave (in the 3rd, in the 3rd) its targets might be located slightly above the 1.4500 level.