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The plot deepens

16 November 2015, EUR/USD

In previous reviews, there was a lot of confidence that the euro had finally achieved rapid and sustained acceleration in the development of the ascending impulse wave (v), but the situation may take an unexpected turn.

The fact is that recent price fluctuations from November 10 remind correction, but considering that before that had been a rapid decline, then there is a strong probability that drop of the pair will resume.

However, we do not exclude the fact that the above correctional wave (iv) will not take the form not of a Double Zigzag and a plane with the impulse wave [c], and then decline will be small followed by reversal and the pair will start impulse growth within the development of wave (v).

Also, the previous scenario in which growth can begin in the next few hours is not canceled.

Thus, there are more options over time, but most of them point to the possibility of starting of the impulse growth.

My trade still remains open.

Vasiliy Lukin
Analyst of «FreshForex» company
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