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EUR/USD. The upward impulse has matured.

EUR/USD. The upward impulse has matured. | 29 February 2024

29 February 2024, EUR/USD

EUR/USD. The upward impulse has matured.

The recent decline confirms the assumption of a more protracted development of wave ii. The price barely updated the local minimum and formed a clear zigzag, after which it began to rise without wasting time, preparing the ground for further directional movement.
Presumably, wave iii of the upward impulse is forming, which means that we will see prolonged growth in the near future, reaching the previously set targets around 1.1000 and even higher.
Therefore, it is recommended to start buying at current market values and hold long positions until the specified targets are reached.
Investment idea: Buy at 1.0835, stop loss at 1.0800, take profit at 1.1000.

Bob Stan
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