The pair EUR_USD was continued its growth by complicating 5th construction in the 3rd within supposed C-wave. In view of the trend’s high dynamic the price walked significantly further up from the calculated levels of already mentioned 3rd wave (see picture). While, in doing so, the middle line of the Andrew’s Pitchfork was not disturbed, the growth of the euro-currency, however, was slowed-down, which can be a signal for a brewing correction. The same thing tells us about also– is a strong overbuying-ness of the stochastic.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst