After its roll-back a pair Euro-Dollar resumed united currency consolidation trend. As we gave notice a potential for another attack in whole yet didn’t vanished. A fact grabs attention that price, probably, will make attempt of repeat testing of correction level 88.6%; between two positions; December, 2008 maximum and March minimum. By today’s growth from correction level 50% a path opens to rated targets, which lays in the limits from 1.4420 till 1.4590, in the limits of supposed, developing 5th wave.
Along with that there is high possibility forthcoming price u-turn in the direction rather long-term correction, of which tells remaining MACD divergence.
Analysis prepared by:
Maxim Dmitrievsky
Forex4you analyst