Formation of the ascending impulse has begun! | 24 August 2015
24 August 2015, EUR/USD
Our expectation of a tapered wedge as the wave [i] was wrong, but it has no effect on the future plans of the pair, as the picture is still drawn for bulls.
The new scenario suggests formation of a conventional impulse in the wave [iii].
At the moment, we assume a completed development of wave iii of [iii] , In the near future we expect a corrective decline due to formation of wave iv.
In this situation, the best solution is looking for opportunities built on the corrective decline.
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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.
