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Probably, 3rd descending impulse wave is being formed

12 August 2016, EUR/USD

As we expected, after the rapid upward bounce, the pair has renewed a downward movement. So, it is likely that in the future we will face an impulse drop, in particular, within the frames of its third wave. In this situation, we can consider sell options rather than buying options, the more there is a clear point for putting a protective Stop Loss on the local High.

My earlier open sell trades are into the black, so, we are watching for further development of the situation.

Vasiliy Lukin
FreshForex Analyst
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