EUR/USD. The direction of movement has changed. | 03 January 2024

The option with another ascending wave quickly got canceled. The price has dropped quite powerfully, indicating a claim to the development of a descending impulse. Therefore, there is a need to review the current wave pattern. In principle, we are simply returning to one of the previously considered options. According to it, the final diagonal triangle has already formed, and wave [5] within it turned out to be the most prolonged, causing the price to break beyond the upper forming boundary. The current decline is likely to be impulsive, and after another minimum update, it may be completed. After that, the price will start a corrective rise. While the potential for a decline remains, it is worth considering the possibility of entering into sell transactions.

Investment idea: sell at 1.0950, stop loss at 1.0975.