EUR/USD. Expectations for an impulsive decline in the pair persist. | 09 February 2024
09 February 2024, EUR/USD
The price attempted to resume the impulsive decline, but the euro vehemently opposed this idea, halting the movement and attempting to rise. Currently, all movement is within a narrow price range and is considered a continuation of the presumed corrective wave [2].
Therefore, after another small wave of growth, a reversal may occur, initiating the expected impulsive decline driven by the development of wave [3] of the descending impulse.
Selling in this case is recommended upon a breakout of the same local minimum established by wave [1].
Investment idea: Sell at 1.0725, stop loss at 1.0750, take profit at 1.0600.
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.
