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EUR/USD. The development of the ending diagonal triangle is presumed to be nearing completion.

EUR/USD. The development of the ending diagonal triangle is presumed to be nearing completion. | 27 December 2023

27 December 2023, EUR/USD

The price is resistant to decline, possibly due to the development of a shallow correction, identified as wave [4] within the presumed ending diagonal triangle. In this case, the specified wave can be considered completed, suggesting that we may soon witness an increase in the final wave of the considered model.
In this situation, the price will update its current maximum. It is concerning that the upward movement is anticipated in the final wave, indicating that after its completion, the price will reverse.
Therefore, it is recommended to wait for the completion of the development of the ending diagonal triangle, then consider selling in case of pressure from the dollar.
Investment idea: flat.
Bob Stan
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