EUR/USD. Development of Correctional Wave [4] Likely to Continue. | 12 March 2024
12 March 2024, EUR/USD
![EUR/USD. Development of Correctional Wave [4] Likely to Continue.](/netcat_files/Image/e892ca57e5b9e925e94f1a4b16cb6cba.png "EUR/USD. Development of Correctional Wave [4] Likely to Continue.")
The situation with the considered pair is evolving as expected. After swiftly updating the local minimum, the price began to decline, presumably forming a correction. More precisely, we are likely witnessing wave [4].
At the moment, it is unlikely that we can conclude that this correction is complete, even though the price may attempt to rise. There is a high probability that the current trading day will continue the development of the correctional structure, which will be more complex than a simple zigzag.
Therefore, there is no recommendation to enter into any trading deals at this time.
Investment idea: Flat.
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.
