EUR/USD. The price attempts to resume its upward movement. | 18 March 2024
18 March 2024, EUR/USD
The price indeed reached the lower boundary of the ascending channel, within which a diagonal triangle formation is presumed to be taking place. This decline is viewed as corrective wave iv, taking the form of a flat pattern. An attempt to break out beyond the channel proved unsuccessful, resulting in a minor rise followed by a pullback.
Presumably, this marks the beginning of the formation of the final wave v within the mentioned diagonal triangle. A level is indicated on the chart, the breakout of which may serve as a signal to initiate buy positions.
Investment idea: Buy at 1.0900, Stop Loss at 1.0875, Take Profit 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.
