EUR/USD. The price will test the lower boundary of the sideways range. | 15 January 2024
15 January 2024, EUR/USD
As expected, the price continued to trade within a certain price range. The sideways movement is prolonged, and at the moment, there are no indications of its completion. In the near future, a decline is anticipated, testing the lower boundary of the range. Following this, there might be a slight rebound and an attempt to break downward. If successful, it will mark the beginning of the development of either wave iii of the presumed descending impulse or the final wave in the descending correction, taking the form of a zigzag.
Thus, there are still no signals for entering any trades, so it is recommended to continue observing the unfolding 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.
