The euro is moving upward relentlessly, like a tank. Another trading day ended with an update of this year’s high. It seems that this strength and momentum will not fade, but everything has its limits. The upward movement will soon come to a halt as the impulsive cycle reaches its completion.

In the near term, further growth and another update of the current high are still possible, after which sellers will begin to put pressure on the price again. This will lead to a pullback movement, which, given the strength of the previous impulsive upward trend, should be significant.

Trades should be opened after the current local high is updated.

Recommendation: Sell 1.0900, SL 1.0935, TP 1.0770.