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Formation of the ascending impulse has begun!

24 August 2015, EUR/USD

Our expectation of a tapered wedge as the wave [i] was wrong, but it has no effect on the future plans of the pair, as the picture is still drawn for bulls.

The new scenario suggests formation of a conventional impulse in the wave [iii].

At the moment, we assume a completed development of wave iii of [iii] , In the near future we expect a corrective decline due to formation of wave iv.

In this situation, the best solution is looking for opportunities built on the corrective decline.

 Formation of the rising pulse!

Vasiliy Lukin
Analyst of «FreshForex» company
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