Further decline in corrective wave Y

04.10.2021

Directional movement during the last trading day was expectedly suspended. The price began to try to grow, but it turned out to be indistinct and more like the beginning of the sideways development. But we will probably see another attack from sellers, which will lead to further depreciation of the euro.

The optimal entry point in this case will be the current minimum or rather the moment of its breakdown. It is also worth noting that the movement is assumed within the formation of a correctional wave Y, which is at the final stage of its development, so we should not expect a prolonged decline.

Investment idea: sell 1.1560, stop loss 1.1580, take profit 1.1450.