Article By RoboForex.com
In our previous review, “The final ascending movement of the price. Wave analysis of EUR/JPY for 28.10.2014”, we discussed a possible scenario how the price form an ascending impulse (iii) of [v].
The price has chosen the first scenario of several described in our previous review. Probably, right now the market is forming a descending correction (iv) of [v], which may be followed by the final ascending movement inside wave (v) of [v].
Our mid-term expectations haven’t changed so far. The current chart structure implies that the pair may be completing the final ascending wave [v] of C of (C).
However, at the same time one should remember that any possible scenario is subjective and the market may move in a completely different direction.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.