Wave analysis on 25.09.2014

September 25, 2014

Uptrend dominates.

Presumably, the formation of the third wave iii of the senior level continues, within which the third wave  (iii) of iii of the junior level is being formed. Locally, a small correction as the wave ii of (iii) has completed and the development of the wave iii of (iii) has started. If this assumption is correct and the price does not break down the critical level of 1.1050 the pair will continue to rise to the levels of 1.1200-1.1300.

Trading tips

Buy the pair above the level of 1.1050 with the target of 1.1200-1.1300.

Alternative scenario

Breakout and consolidation of the price below the level of 1.1050 will allow the pair to continue the decline to the levels of 1.1000-1.0970 as part of the deeper correction.

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