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EUR/USD. The market introduces new corrections.

EUR/USD. The market introduces new corrections. | 22 December 2023

22 December 2023, EUR/USD

EUR/USD. The market introduces new corrections.

The situation with the analyzed pair continues to remain somewhat unclear. On one hand, an ascending impulse has already formed, but on the other hand, the price keeps pushing higher, constantly encountering fierce resistance from sellers. As a result, the progress becomes challenging, consisting of three wave combinations.
In this context, there is a probability that wave v in the ascending impulse continues its development, taking the internal wave [5] in the form of a terminal diagonal triangle. To complete the indicated pattern, a decline to the lower boundary and another upward surge are required, roughly as depicted on the provided chart.
The price is unlikely to break out in this situation, so it is recommended to wait for the completion of the development of the specified pattern and the emergence of a good trading signal.
Investment idea: flat.
Bob Stan
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