FX.co ★ Wave analysis of the EUR/USD currency pair for November26, 2009

After remaining unchanged the EUR/USD pair renewed the upside trend, which began to demonstrate the signs of “weariness”. However, we admitted such opportunity in weekly review, but in longer outlook. Currently, the price has already formed the waves of 1 and 2 of new part of the upside trend and approaches to calculating targets of the 3 wave. Most likely, we should consider that the correctional level of 76.4% is located near the first estimated target of the 3 wave, calculated from the downside trend of the last year. Most probably, this fact can have an impact on the price behavior at the approach to the marks of 1.5160-1.5190.

Best regards,

analyst: Alexander Dneprovskiy.

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