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Correction

Correction | 01 September 2016

01 September 2016, EUR/USD

Last day wasn’t so effective for sellers as previous days.

On the one hand they controlled price but on the other price didn’t decrease.

Every step down was compensate it was leaded to stop direct moving.

Probably forming of wave iii of decreasing impulse was ended and pair goes from impulse movement to the correction and wave iv is developing.

If this suggestion is correct pair now would be stay at the same level and then decrease moving would be continue.

In this situation we stop trading and wait for clarification of situation.

EUR\USD. Correction is in the fourth wave.

Vasiliy Lukin
FreshForex Analyst
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