The target for the short-term decline in the euro exchange rate has been overfulfilled. The price rose as rapidly as it fell, returning to the starting point. Currently, there is another attempt to grow, which is likely to be just a minor corrective movement.
For now, the euro and the dollar will remain in relative equilibrium, moving within a narrow range, after which a sharp impulsive decline is expected. This scenario is indicated by the previously formed bullish zigzag with a terminal diagonal triangle as wave C, which is a good signal for a downward movement.
It is advisable to open sell trades in the current situation upon breaking through the designated local low.
Investment idea: SELL 1.1725, SL 1.1750, TP 1.1570.
Origin: FreshForex
