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The pair is to continue a corrective decline

09 September 2015, EUR/USD

The market did not form a simple single zigzag as prospective wave [ii].

Bulls failed to build on their success and the price had stuck in the flat with a view to resumption of the downward movement.

Thus, it is likely that correction will take a more complex structure such as a double zigzag.

In this case, if we take into account the fact that the first part of this complex structure has been formed and current price swings in the flat are just wave ligament x of [ii], it can be assumed that in the near future the pair would drop.

In this case the target is around 1.0840.

The pair is to continue a corrective decline

Vasiliy Lukin
FreshForex Analyst
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