Wave 3 is on the way | 19 April 2016
19 April 2016, EUR/USD
Apparently, the considered pair is still forming orrection, which is caused by the wave 2 of the emerging downward momentum.
The above wave is likely to take the form of a triple zigzag and now looks as almost completely finished. Therefore, in the future we expected resumed drop of the pair within the borders of the wave 3 of a downward momentum.
To be more sure in a sale trade, we should wait for breakdown of the channel's bottom, where the considered correction is concentrated to open a Sell trade with the Stop Loss based on the local High
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.
