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18 May 2016, EUR/USD

The pair continued to be traded in a very narrow range, but by the end of the day there was a very interesting move. The price has taken a step, which may indicate the possibility of resumption of the downward impulse price movement.

Although the local Low has not been updated and the price remains within the range of correction, but a probability of further decline seems to be very high. Therefore, in the near future we expect an impulse drop in the framework of this bearish scenario.

Vasiliy Lukin
FreshForex Analyst
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