Full-fledged downward impulse in the fifth wave

11.11.2021

The dollar was able to find resources in order to crush the euro again. The price rushed down and renewed the local minimum. And this movement no longer fits into the limits of the previously assumed final diagonal triangle. Probably, the observed decline is a full-fledged downward impulse in which the third wave is currently being formed.

In this case, the pair is expected to continue to decline in the near future, approximately as it is schematically indicated in the above screenshot.

Investment idea: sell 1.1480, stop loss 1.1510, take profit 1.1350.