EUR/USD. Probability of Further Upside Remains High. | 21 February 2024
21 February 2024, EUR/USD
Buyers wasted no time in breaking through the local support level. The sharp jump occurred on the same day as the assumption was made. At the moment, this movement is viewed as wave [3] of the upward impulsive movement. There is a sense that this wave may continue to extend.
In that case, we could witness an even more prolonged upward movement. Therefore, initiating and holding buy positions appears to be a promising decision.
The target for the upward movement remains around 1.1000.
Investment idea: Buy at 1.0820, stop loss at 1.0800, take profit at 1.1000.
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.
