The euro showed character and, without imposing any limitations in the form of previously established price highs, swiftly surged upwards. Expectations for the upward movement of the traded instrument were exceeded. The observed growth, seemingly, has an impulsive nature and is driven by the beginning of Wave 3 formation.
Soon, a slowdown in activity and a shift to a corrective price decline are possible. This is because the impulsive structure of the latest upward movement appears almost fully formed.
For this reason, it is recommended to consider the possibility of entering sell trades with a modest target.
Investment idea: SELL 1.0650, SL 1.0670, TP 1.0580.
Origin: FreshForex
