Log in

Wave 3 is on the way

19 April 2016, EUR/USD

Apparently, the considered pair is still forming orrection, which is caused by the wave 2 of the emerging downward momentum.

The above wave is likely to take the form of a triple zigzag and now looks as almost completely finished. Therefore, in the future we expected resumed drop of the pair within the borders of the wave 3 of a downward momentum.

To be more sure in a sale trade, we should wait for breakdown of the channel's bottom, where the considered correction is concentrated to open a Sell trade with the Stop Loss based on the local High

Vasiliy Lukin
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.