The euro is relentlessly advancing, akin to a tank, ever higher. Another trading day ended with an update of the annual maximum. It seems that this force and determination will not diminish anytime soon, but everything has its limits. The upward movement will cease shortly. This is attributed to the completion of the impulsive cycle.
In the near term, further growth and another update of the current maximum are still possible, after which sellers will again exert pressure on the price. This will lead to a retracement, which, based on the resultant impulsive upward movement, should be corresponding.
Trades should be opened after the update of the current local maximum.
Investment idea: SELL 1.0900, SL 1.0935, TP 1.0770.
Origin: FreshForex
