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Correction is still developing

21 July 2015, EUR/USD

Downward movement has stopped finally. It seems that the pair is preparing to a certain bounce within the frames of development of correction.

In the terms of the wave framing, this correction is being formed in the wave [y] of (ii).

Meanwhile, scenario with the wedge has chances to be implemented. Therefore, we base ourselves on this scenario. Trading in this situation is very risky, it is better to stay away for 1 – 2 days.

Correction is still developing.

Vasiliy Lukin
FreshForex Analyst
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