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The wave 3 is getting extended

26 April 2016, EUR/USD

Following to a slight updade of the local Low, the pair halted its decline.

It started weak growth, which probably had a corrective nature and is formed as a second wave of the wave 3

Thus, we can assume that the prospective wave 3 is going to be more extended and therefore form a separate downward momentum.

If this assumption be true, in the future we will have a long impulse drop, so upon updade of the Low, we should open new Sell trades

Vasiliy Lukin
Analyst of «FreshForex» company
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