Impulse decline expectations persist

06.08.2021

The hypothesis about the extension of the third wave of the supposed downward impulse has not been confirmed yet. The dollar, which has managed to strengthen sharply, is trying with all its power to stay at the reached price values, so it is quite difficult for sellers to reverse the price movement vector in the direction they need.

Maybe today it will be possible to do it and the price will make the first step down. In any case, you should not rush to open any trade deals. In this situation it is recommended to wait for the start of a confident decline and enters into sell trades when the current local minimum is updated.

Investment idea: sell 108.65, stop loss 108.90, take profit 106.50.