FX.co ★ Wave Analysis for the EUR/USD pair, August 24,2010

Having stayed in the range till the beginning of the US session, EUR_USD declined slightly thereafter, thus denoting the continuation of the 3rd wave structure in the 3rd (or C) formation. Meanwhile, considering the dimension of the 1st wave it is possible to assume that the target level for this 3rd can be the yesterday’s low of 1.2645 or the mark 1,2620, when the price can enter the correctional stage and develop the 4th wave in the 3rd (or C).