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Continued drop

Continued drop | 14 April 2016

14 April 2016, EUR/USD

Our expectations of a sharp decline of the pair were fully justified.

After a failing attempt to break up the price began to rapidly decline, breaking through the bottom of the channel.

It was caused by a double zigzag and now the pair began to develop a new bearish model.

Thus, in the future we expect a continued drop of the pair within the downward momentum.

My yesterday's sell trade have been successfully transferred into a lucrative break-even status.

Vasiliy Lukin
FreshForex Analyst
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