The euro stubbornly refuses to give any chances to its American counterpart, vigorously responding to every counterattack by the dollar. During the past trading session, a breakout of the lower boundary of the converging triangle was expected, but instead, buyers abruptly began driving the price upwards, quickly reaching the previously established local high.
Probably, this movement belongs to the presumed corrective Wave 2. In this case, a further attempt by the dollar to launch a counteroffensive and improve its position is expected.
In this situation, it is worth trying to sell cautiously at current market values, with a short protective Stop Loss placed beyond the previously established local high.
Investment idea: SELL 1.0510, SL 1.0540, TP 1.0400
Origin: FreshForex
