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EUR/USD. The Euro tries to seize the opportunity.

EUR/USD. The Euro tries to seize the opportunity. | 16 February 2024

16 February 2024, EUR/USD

EUR/USD. The Euro tries to seize the opportunity.

Apparently, the scenario I proposed for the development of events appealed to the Euro, and it is making every effort to realize it. During the last trading day, the exchange rate continued to cautiously rise, approaching the level of breaking the downward trend.
Buyers didn't spend all their strength at once, choosing to take a little break and pause, which is currently leading to the development of a correction. Overall, this entire rise looks very much like an impulse, so the correction currently observed within it is the fourth wave. Further, another wave of growth, and the initial impulse will be formed.
Thus, opening buy positions in the current situation seems to be a promising trading decision.
Investment idea: Buy at 1.0775, stop loss at 1.0745, take profit at 1.1000.

Bob Stan
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