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Breakthrough of the range is expected

03 February 2016, EUR/USD

The pair seems to be firmly stuck in a fairly wide range being traded from its upper border to the bottom border.

But as you know, the longer the price is in the flat, the stronger its further movement gets.

In this case we still consider a bullish scenario suggesting formation of the wave iii of [iii].

But as long as the price remains within the flat channel and has not consolidated above it, it does not worth buying, we are better to patiently wait until it exits the channel and act based on new developments.

Breakthrough of the range is expected

Vasiliy Lukin
Analyst of «FreshForex» company
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