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Euro is expected to start consolidation

Euro is expected to start consolidation | 24 November 2015

24 November 2015, EUR/USD

Euro had made another step down and updated the local Low.

We are to face an absolute Low of a the single currency for several years, but I think that the price will not be allowed to continue a deeper decline.

Traders stopped leaving long positions, the most part of buyers closed by Stop and the price can start growing.

It seems that soon we will face beginning of impulse growth caused by development of the wave (v) of the rising movement.

Based on these assumptions, I opened a Buy trade targeting 1.1700.

Euro is expected to start consolidation

Vasiliy Lukin
FreshForex Analyst
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