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Zigzag continues its formation

Zigzag continues its formation | 29 April 2016

29 April 2016, EUR/USD

Euro continues to behave aggressively rising higher and higher.

However, local High has not been reached yet. Structure of movement still looks like a zigzag, which suggests that growth has a corrective nature.

The 4 hours chart clearly shows that the assumed diagonal triangle is finally formed. Now zigzag is developing, where the wave [b] will soon be formed. Thus, if this assumption be true, in the future we can expect resumption of drop under the wave [c] of the mentioned correctional model

Vasiliy Lukin
FreshForex Analyst
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