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A deeper drop

16 May 2016, EUR/USD

Sellers did not put the things off until tomorrow.As a result of their activity, the pair moved down having updated the Low.

We assume that decline is caused by development of the third wave of descending impulse at a shallow level. If this assumption proves to be true, in the future we can expect a pretty extended decline of the pair as the part of the descending impulse.

Now we can add new trades, as the potential for further downward movement of the prices is very good

EUR\USD

Vasiliy Lukin
FreshForex Analyst
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