Decline began. Correction or impulse?

04 May 2016, EUR/USD

The last trading day was very interesting in terms of the future prospects of the considered currency pair.Euro collected last forces and sharply rose. But then sellers got down to business.

However, it is a big question whether this decline would take as long as the preceding growth. At the moment, drop looks like a purely corrective and upward movement has a good potential for further development.

So we should observe the price movement from aside and can try cautious sales.

Nikolay Krishtopov
FreshForex Analyst
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