A small pause before moving upwards | 05 Junio 2015
05 Junio 2015, EUR/USD
The price did not continue to move upwards and a pullback started which has a correctional character.
The situation is as follows:
The price has bounced from Fibo level 61.8% and started move upwards. This movement was caused by development of the wave [iii] of (iii).
The pair has not reached a local low and started to move down. This descention is likely to be the correctional wave ii of [iii] of (iii).
So, should our assumption be correct, in the nearest time we expect a minor correction, whereupon growth of the pair will continue.
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
