FX.co ★ Wave analysis of the EUR/USD pair for May 10 , 2010

Having touched the correctional level at 61,6%, EUR_USD pair started going down trying to form a new range for the downward trend. Therefore, during the upside movement there was formed a wave construction where a,b,c waves are visible enough, in the considered 4 wave (C) that gives a background to entertain a possibility of pound lowering which began yesterday afternoon. On the other hand, until the last Thrusday minimum is not broken through therre is a possibility of the currency pair' movement to the deeper correction phase.