EUR/USD. Another attempt at corrective growth. | 29 January 2024
29 January 2024, EUR/USD
The price made another attempt to decline but once again failed to surpass the local minimum, which has become a support level. The downward movement resembled an impulse wave. It's possible that this wave plays the role of wave v in the descending impulse.
Then the ongoing rise, followed by a pullback, could mark the beginning of an upward impulse within a bullish correctional structure. In this case, we can expect growth in the near future, making opening long positions a promising opportunity.
Positions can be opened at current market values, with a protective stop loss set at the previously formed minimum, identified as wave v of i.
Investment idea: Buy at 1.0845, stop loss at 1.0810, take profit at 1.0930.
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.
