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Situation is very knotty

29 February 2016, EUR/USD

Knotty and unclear flat is continuing to form on this pair, which have been starting from middle of march of last year.

This long term shows that further movement of the pair would be strong and long, but direction of movement is unknown.

Market couldn’t determine direction of movement: increase impulse starts to form, after that price starts to decrease.

Wave chart shows that zigzag has formed and pair is going to decrease.

But the whole situation is bullish and it is possible that final diagonal which is formed as (v) wave.

in all cases it is better to wait for price movement and acted according to situation.

Now there is no evidence so we should only observe market.

Situation is very knotty

Vasiliy Lukin
Analyst of «FreshForex» company
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