The expected rise in the euro did not materialize. Instead, the price moved in a completely different direction. An attempt to rebound from the lower boundary of the channel resulted in a sharp decline, invalidating the previously considered scenario.
It appears that the correction may be complicating, transforming from a double three into a triple formation. If this is indeed the case, we may see another downward wave in the near future, aimed at completing the formation of zigzag z, followed by an upward move.
In this situation, it is possible to consider a quick short position at current market levels, with a target near the low established by wave y.
Investment idea: SELL 1.1630, SL 1.1645, TP 1.1575
Origin: FreshForex
