EUR/USD wave analysis for August 31, 2011

Alexander Dneprovskiy

Yesterday’s decline of the EUR/USD currency pair to the 1.4380 level has probably enabled it to form the 4th wave in the estimated 5th (in the 3rd). If so, the upside movement indicated later yesterday might appear the beginning of the 5th wave in this 5th (in the 3rd). At the same time the level of the 46 figure is still the target level for this whole 5th wave.

http://instaforex.com/forex_analysis/37358/?x=OUE 

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