Photo: Вчерашний резкий медвежий импульс к началу нынешней европейской торговой сессии давно завершен
The chart below, courtesy of the SRP Department of , reflects the current state of affairs in the market of EURUSD. The H4 chart shows that the wave level of the existing correctional move increased last Friday, thereby hinting at the inevitable elongation of the existing bearish trend by starting a new wave pattern, which is known as the “Hound of the Baskervilles” pattern.
That is why there is nothing surprising in the fact that EURUSD has made 2 new local lows over the last 4 days amid analysts’ expectations that the mid-term downtrend is slowing down and even suspended. As a result, the current local low is located at 1,2922.
Yesterday’s sharp decline is completed. Therefore, the price is currently recovering from it, thereby consolidating its position. The experts say that there is noting that could prevent the price form making another bearish ABC pattern of wave level M15.
Татьяна Каширская, аналитик отдела "Форекс, курс евро", трейдер кафедры СРП Академии трейдинга Masterforex-V
