FX.co ★ Wave analysis of the EUR/USD currency pair for February 05, 2010

Totally, yesterday\'s situation on the EUR/USD currency pair was done as we expected, namely for the target near the level of 1.3745. At the end of the day it was worked out. However, the gained by the market dynamics of decrease and the internal structure of the 3rd wave (in the 5th) allow to admit the continuation of the price decline on the Euro, probably to the levels around 1.3600. In addition, the low border of the descendant corridor is located near the mentioned above target, starting from the beginning of December. The further picture on the EUR/USD pair will possibly depend on the stock markets situation, due to developing correction there.

Analyst: Alexander Dneprovskiy.