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Trading within the wedge continues

20 August 2015, EUR/USD

It is possible that the wedge is presumably formed at the moment and it is represented by the wave [i] of (iii), it does not develop within the channel as previously assumed, but it is the part of a converging triangle.

In the course of yesterday's trading the wave iv of [i] was formed and at present the price goes up obviously to complete the final fifth wave.

Thus, in the near future, we obviously expect continuation of growth of the pair within the limits of this model.

It is assumed that the movement will take the form indicated by dotted lines on the chart.

Trade in the wedge is going on.

Vasiliy Lukin
FreshForex Analyst
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