FX.co ★ EUR/USD wave analysis for May 18

As expected, having touched the low of 2008 the EUR_USD pair price started to move upwards, probably, forming the 4th in the 5th wave (in C). It should be mentioned that such correctional rebound should take place in the direction of the levels calculated in the scale of the 3rd wave in the 5th. Taking into account the dynamics of a decreasing trend the correction is possible to finish around the midline of the sliding channel which in fact corresponds to the calculated level of 50.0%. In case the trend versus the euro renews the targets for the 5th wave can be found near the levels of 1,1800.