Following the development of the presumed ending diagonal triangle, the price grew quite well, allowing us to look optimistically towards the future of the single European currency. However, no continuation followed. Instead, the price began to slide down confidently, losing more than half of the previously conquered price levels. For now, this can be seen as a corrective Wave 2 in an emerging upward impulsing movement.
However, if the price continues to fall and updates the lows, the current scenario will need to be revised.
Meanwhile, the price could potentially rise, and do so rather sharply. This would be facilitated by a possible Wave 3 in the anticipated bullish impulse.
One might try to buy at the current market values, setting a protective stop loss at the local minimum.
Investment idea: Buy 1.0320, Stop Loss 1.0265, Take Profit 1.0630.
Origin: FreshForex
