EUR/USD. The price remains within corrective boundaries. | 09 January 2024
09 January 2024, EUR/USD
The situation is unfolding as expected. The price has paused and is not making any sharp movements. As a result, we observe a decrease in volatility and a gradual transition to a sideways trend. Presumably, this signifies the continuation of the development of corrective wave ii in the emerging downward movement.
In the near future, calm trading within a narrow price range is expected, followed by an attempt at an upward movement aimed at completing the formation of the mentioned corrective wave. Afterward, the development of the next descending impulsive wave will commence.
Until that moment, it is recommended to stay out of the market and observe the situation from the sidelines.
Investment idea: flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
