The euro is not ready to accept the role of a trailing currency in this pair. Over the past trading day, it made a quite successful attempt to change the negatively developing situation in its favour. As a result, instead of the expected decline, we saw a rapid rise.
However, it’s too early to draw conclusions about this movement. Most likely, this surge in buyer activity is temporary and is part of the ongoing correction. In this case, we will see a response from sellers today.
If the response is convincing, after the correctional structure develops, we will see an impulsive decline, as indicated by the previously formed terminal diagonal triangle.
Investment idea: SELL 1.1840, SL 1.1865, TP 1.1750.
Origin: FreshForex
