EUR/USD. Growth through the diagonal triangle. | 13 February 2024

13 February 2024, EUR/USD

EUR/USD. Growth through the diagonal triangle.

The updated labeling has not yet been confirmed. The price continues to hold within the ascending channel. It strongly resembles the formation of an initial diagonal triangle within it. One wave of growth is still needed to complete this pattern. Such a scenario is depicted in the chart above. In the near future, we expect growth within the development of wave [1], followed by a minor correction, and only then will the impulsive rise in wave [3] begin.
In the current situation, it is appropriate to consider buying.
Investment idea: Buy at 1.0770, stop loss at 1.0740, take profit at 1.1000.

Bob Stan
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