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Impulse decline is expected

Impulse decline is expected | 11 August 2016

11 August 2016, EUR/USD

Yesterday Euro was trying to attack. Bears were not ready for such events and allowed growth to almost the starting point of the previous decline. But the price failed to update High, perhaps because that the upward movement had only a corrective nature. Thus, if this assumption is true, within the near future we can expect impulse decline to resume.

For this reason, I've opened a Sell trade with a short stop loss set at a local High.

Vasiliy Lukin
FreshForex Analyst
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