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EUR/USD. Growth in the final wave of the diagonal triangle.

EUR/USD. Growth in the final wave of the diagonal triangle. | 20 March 2024

20 March 2024, EUR/USD

EUR/USD. Growth in the final wave of the diagonal triangle.

The market once again provides an opportunity for the euro to change the situation in its favor. After pushing the price beyond the channel and thus indicating that the rise is canceled, the price dropped slightly but quickly reversed and began to cautiously rise. Most likely, as previously assumed, this was manipulation, and wave iv took the form of a double zigzag, explaining the recent decline.
Therefore, the observed cautious rise is the beginning of the development of wave v. Thus, it may be worth trying to start buying at current market values, aiming to catch the movement in the final wave of the forming diagonal triangle.
Investment idea: Buy at 1.0870, Stop Loss at 1.0840, Take Profit at 1.1000.

Bob Stan
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