Correction | 11 May 2016
11 May 2016, EUR/USD
The current situation is in favor of the bulls, but only in terms of correction.This is due to the fact that development of the first wave of the emerging downward momentum has been completed or already completed by now.
Next, we should expect correction, so probably it will start soon. For this reason, Buy trades shall rely on a short movement towards the open position now, and it is better to stay on the sidelines in anticipation of a more favorable situation.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
