11 May 2016, EUR/USD

The current situation is in favor of the bulls, but only in terms of correction.This is due to the fact that development of the first wave of the emerging downward momentum has been completed or already completed by now.

Next, we should expect correction, so probably it will start soon. For this reason, Buy trades shall rely on a short movement towards the open position now, and it is better to stay on the sidelines in anticipation of a more favorable situation.

Vasiliy Lukin
FreshForex Analyst
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