EUR/USD. Growth in the Third Wave of the Upward Impulse. | 27 February 2024
27 February 2024, EUR/USD
The upward movement in the EUR/USD pair began earlier than anticipated. The eagerness of the euro was so strong that sellers failed to form a complete zigzag correction. Of course, it's possible that the current rise could be part of a corrective wave, which would lead to a decline and the establishment of a new local minimum. However, the probability of such a scenario seems low for now.
Presumably, the upward movement is forming within the development of wave iii. The previously formed initial diagonal triangle indicates a potentially strong upward movement. Therefore, it is recommended to open buy positions at the current market price.
Investment idea: Buy at 1.0850, set a stop loss at 1.0820, and take profit target 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.
