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A small pause before moving upwards

05 June 2015, EUR/USD

The price did not continue to move upwards and a pullback started which has a correctional character.

The situation is as follows:

The price has bounced from Fibo level 61.8% and started move upwards. This movement was caused by development of the wave [iii] of (iii).

The pair has not reached a local low and started to move down. This descention is likely to be the correctional wave ii of [iii] of (iii).

So, should our assumption be correct, in the nearest time we expect a minor correction, whereupon growth of the pair will continue.

A small pause before moving upwards

Vasiliy Lukin
Analyst of «FreshForex» company
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