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EUR/USD. Correction continues its development.

EUR/USD. Correction continues its development. | 19 December 2023

19 December 2023, EUR/USD

EUR/USD. Correction continues its development.

After a relatively sharp and somewhat unexpected decline, the price has begun to gradually rise. Most likely, this cautious growth is corrective, so expecting a prolonged movement is unlikely.
Subsequent decline is anticipated as part of the development of either a large correction or a significant impulse. Either way, the movement could turn out to be quite prolonged. However, confirmations are needed.
In the near future, the price may increase slightly and complete the correction, after which it will be possible to consider starting to sell. The sell signal is likely to form closer to the end of the current trading week or at the beginning of the next.
For now, it is recommended to stay out of trading positions, observing the situation from the sidelines.
Investment idea: flat.
Bob Stan
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