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Perhaps, development of correction is completed

27 July 2015, EUR/USD

It is possible that this pair has finished development of correction.

It was assumed that the wave (ii) takes the form of a Double Zigzag and in this regard we expected continuation of decline.

However, it is quite possible that correction is shaped as a simple zigzag and by now it has already been fully formed.

So, soon we expect the pair to continue its current growth and that will be the part of the wave (iii) of an ascending impulse.

Perhaps the development of the correction is completed.

Vasiliy Lukin
FreshForex Analyst
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