Wave analysis – Holding short positions

EURUSD – UpAfter the Friday’s reaction of market to speech of Fed’s Chair, we finally saw a good downward movement. The price decided not to descend and took a correction. The above correction seems to have been formed within the wave iii of the downward momentum and may be the second wave of the emerging extension. If this assumption is correct, in the future we expect continuation of impulse drop within the considered bearish impulse model. Sales still remain relevant.
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