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EUR/USD. Development of Correctional Wave [4] Likely to Continue.

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.

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.
Bob Stan
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