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FX.co ★ Wave analysis of the EUR/USD pair for May 10 , 2010

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Forex Analysis:::2010-05-11T12:00:00

Wave analysis of the EUR/USD pair for May 10 , 2010

Wave analysis of the EUR/USD pair for May 10 , 2010

Having touched the correctional level at 61,6%, EUR_USD pair started going down trying to form a new range for the downward trend. Therefore, during the upside movement there was formed a wave construction where a,b,c waves are visible enough, in the considered 4 wave (C) that gives a background to entertain a possibility of pound lowering which began yesterday afternoon. On the other hand, until the last Thrusday minimum is not broken through therre is a possibility of the currency pair' movement to the deeper correction phase.

Analyst InstaForex
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