EUR/USD. The ascending trend is strengthening. | 07 March 2024
07 March 2024, EUR/USD
The euro managed to use the previously broken sloping level as support, initiating a sharp strengthening. During the last trading session, the price confidently updated the local maximum set by wave i, and currently, it is consolidating at the reached levels.
The pause is likely to be brief. Already today, the pair's growth may continue. Thus, wave iii of the presumed ascending impulse will develop. The earlier targeted goal of 1.1000 will easily be achieved and left behind in this case.
In connection with this, it is recommended to continue holding long positions and, if possible, adding to them on the breakout of the current local maximum.
Investment idea: Buy at 1.0915, Stop Loss at 1.0880, Take Profit at 1.1050.
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.
