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EUR/USD. The price will test the lower boundary of the sideways range.

EUR/USD. The price will test the lower boundary of the sideways range. | 15 January 2024

15 January 2024, EUR/USD

EUR/USD. The price will test the lower boundary of the sideways range.

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.
Bob Stan
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