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Growth scenario was not allowed

08 April 2016, EUR/USD

All efforts of bulls to break above were in vain. There is a feeling like the car working up the speed faced the wall, which buyers drove in at full speed. Of course, such a painful blow affected their spirit.

Breakdown of the upper border of the defined range turned out to be false, the price has updated High a little and returned back. Probably this way the wave c of y was finally formed.

Now in the future we probably expect beginning of impulse drop of the pair. We can already try cautious sales with Stop Loss placed at the maximum price.

Vasiliy Lukin
Analyst of «FreshForex» company
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