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The wave (iv) continued its development

The wave (iv) continued its development | 23 October 2015

23 October 2015, EUR/USD

Our assumption that the wave (iv) has taken the form of a horizontal triangle proved to be wrong.

At the time when the expected continuation of flat, the price sharply fell.

However, this decline affects the overall picture in no way.

As before, we assume that the wedge as the first waves of the ascending impulse is being formed, the wave (iv) obviously takes the form of a Triple Three, for the final formation it lacks a couple waves.

If this assumption be true, later on a pullback from the trend you can begin make firsts purchass. Now it is better to be out of the market.

wave (iv) continued its development.

Vasiliy Lukin
FreshForex Analyst
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