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Upward impulse move

21 January 2016, EUR/USD

Buyers continue to be challenged by the level, which was drafted virtually from scratch.

For the third time in run, the price rebounded from the range 1.0970 - 1.1000. This might mean a delayed formation of correction caused by the wave ii of [iii].

If this assumption is correct, in the future we expect breakdown of this level and notable impulse growth of the pair .

For a safer entry, you should use pending buy stop orders, which is set slightly above 1.1000.

Upward impulse  move

Vasiliy Lukin
FreshForex Analyst
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