Wedge with the downsized fifth wave! | 14 July 2015
14 July 2015, EUR/USD
Because bulls and bears have been taking any active actions for long and flat started to develop, I revised my wave frame and changed it. But its points is still the same.
So, I assume that we see the wedge in which the wave [v] of (i)is downsized.
It failed to update High reached by the wave [iii].
Then it was replaced by sort of correction which is likely to be represented by double zigzug.
If our assumption is correct, in the nearest time we shall probably expect continuation of correction in the course of which we will witness formation of the wave [y] of (ii).
We shall delay postpone for an uncertain period.
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
