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The Euro will try to grow.

The Euro will try to grow. | 04 December 2023

04 December 2023, EUR/USD

The pair's growth has stalled. The price not only began to decline but also managed to form something very similar to an impulse. This can be interpreted as a wave A correction taking the form of a zigzag. Further growth is expected as part of the development of wave B. With a high probability, there won't be an update of the current local maximum established by wave III. The price will increase to the 61.8% level of wave A, after which it will start forming wave C.
In this situation, it is possible to consider short-term purchases at current market values with a target at the level of 1.0940.
Investment idea: Buy at 1.0875, stop loss at 1.0835, take profit at 1.0940.

Bob Stan
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