FX.co ★ Wave analysis of the EUR/USD currency pair for January 22, 2010

At yesterday\'s trades the EUR/USD currency pair, dropping much less, than by the figure, after that it began to try shots of marking the step-back. Herewith, it can happen that the 4th wave can be formed in the 5th of the current descendant trend as the result of such divergence. It should be mentioned, that according to the internal dimension, the 5th wave actually worked out the target level, located from 1.4025 to 1.3990, due to this we can suggest, that after the finishing of the 4th wave formation the Euro will only be able to break the yesterday\'s low slightly. Furthermore, MACD demonstrates the “weariness” of the currency pair from the dynamic downslide motion.

Best regards,

Analyst: A. Dneprovskiy.