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Correction decline is expected

03 November 2015, EUR/USD

After a confident start, bulls have slowdowned their progress, which led to beginning of decline. This movement apparently has a corrective nature.

In the previous review we pointed out that this correction aims to bring some buyers out, so that to wipe timid buyers out of positions.

Such properties are often attributed to the second impulse wave.

Thus, at the moment, there is a formation of the second wave of the emerging upward impulse .

The final shape was not taken by this wave, so in the near future correction is expected to continue its development.

Vasiliy Lukin
FreshForex Analyst
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