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Ready for decline

02 August 2016, EUR/USD

Bearish frame remains relevant. The previous trading day, the pair had been correcting. Perhaps, this way the pair is gradually preparing for a move down. Whatever it is, correction in the form of a plane wave [iv] seems to be fully formed, so the bearish scenario has all chances. Anticipating an impulse drop, I opened a Sell trade with stop loss not set yet, but I will exit on update of High.

Vasiliy Lukin
FreshForex Analyst
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