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EUR\USD is waiting for some boost

07 June 2016, EUR/USD

Fundamental indicators of the United States during Friday's trading had a bullish impact to EURUSD. After this movement, this currency pair slowed down and showed a stable sideways trend. Perhaps, the news, which having moved so dramatically the market, has led investors into confusion. And now they have to agree about pair vector for the future price movement. According to wave analysis, this vector seems to be bearish soon. The reason is that probably after the i wave formation, which had downward direction, the pair rose sharply in the development of a correctional ii wave. Thus, logically, we should expect the downward trend in the near future caused by the formation of iii wave, the downward momentum. You may try to open short positions with Stop Loss at local price High.

Vasiliy Lukin
FreshForex Analyst
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