EUR/USD. The sideways movement has taken on clear boundaries. | 12 January 2024
12 January 2024, EUR/USD
The developing corrective sideways trend is beginning to take on defined boundaries. It is likely that we are dealing with not a flat but a double or triple zigzag. In this case, the price may move within the indicated boundaries for quite some time, periodically tempting impatient traders into hasty decisions by sharply breaking beyond these limits and quickly returning back.
Therefore, it is necessary to wait for a confident breakout and the price to establish itself beyond the evolving correction structure before seeking opportunities to enter trades. In our case, a decline is expected due to the development of the third wave of the descending impulse.
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.
