We didn’t see the expected decline. The price moved slowly upwards, coming very close to the critical level. If this level is broken, the downward movement will not be an impulse but a triple, which indicates a corrective nature of its development.
For now, there are still minimal chances for a decline and the formation of an impulse. We will consider this scenario as the main one. For its implementation, the price needs to start falling immediately from the opening. It’s recommended to enter sell trades in this situation upon breaking the 1.1660 level.
Otherwise, we may see a continued development of the correction, which will continue to become more complex and extend over time.
Investment idea: SELL 1.1660, SL 1.1690, TP 1.1570.
Origin: FreshForex
