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FX.co ★ Wave analysis of EUR/USD for June 21, 2010

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Forex Analysis:::2010-06-21T12:00:00

Wave analysis of EUR/USD for June 21, 2010

 Wave analysis of EUR/USD for June 21, 2010

The EUR/USD price is trying to overcome the correctional level of 38.2%. If such tries will turn to be successful, next target for the euro can be the mark of 1.2540 corresponding to a doubled dimension of wave c, estimated from a of current uprising correction. At the same time, high overbought of scholastic attracts attention, which can speak for certain anomality of the tries of reaching the level of 1.2540 or even 1.2630. Apart from this, it seems that the third wave in c is finishing its development because of it the keeping of long position looks slightly risky.

Analyst InstaForex
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