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A correctional decline

05 May 2016, EUR/USD

Bullish strength is definitely exhausted, the pair began to decline slowly but surely.

Perhaps, this is caused by development of the correctional wave of the second zigzag shaped as the wave y of [v].

If this assumption is correct, in the near future we can expect a continued drop and flat. In this situation, we may try cautious sales with Stop Loss set at High, but at the first opportunity a trade will be transferred to breakeven

Vasiliy Lukin
FreshForex Analyst
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