Having spent yesterday within a narrow flat that ranges for a mere 46 standard points, common European currency has broken any hope to continue its rising trend as a part of recent mid-term bullish trend because of its slight single movement down in the course of Asian trading session. ABC structure, formed at 1.2589 price level from the local high, gives rise to think about probable end of bullish correction within Daily bearish trend.
Taking into consideration the abovementioned structure, it is worth adding that wave C m30 is not over yet. In this reference, the first price level has been reached, but the potential has not been fulfilled to its full extent, as stated by the specialists of the System of Early Prediction of . It follows that development of the downtrend in the short term is to be watched carefully in order to identify the point of its termination, as taking new trading decisions on euro before this is unreasonable.
Analysis by: Tatiana Kashyrskaia, analyst of Forex EURUSD Department, trader of SRP Sub-department of
