Situation develops in favor of Euro, and a process gathers strength. And we must bear in mind that we probably examine finishing stage of current dollar weakening. As we supposed, after a price walk away down, variation preserves, that concedes work-off of targets above that stays in limits from level 1.4420 till 1.4600, and which will correspond to dimension 2.618 and Fibo-dimension 4.236, took form wave 1 in supposed (and developing) 5th. In principle, there are design values also above already mentioned, but it is early to speak of. In case of this position opening, set the stop under 1.4250. It is important to pay attention and remember, that MACD divergence maintains.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst