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EUR/USD. The dollar continues to exert pressure on the euro.

EUR/USD. The dollar continues to exert pressure on the euro. | 25 March 2024

25 March 2024, EUR/USD

EUR/USD. The dollar continues to exert pressure on the euro.

Following a devastating attack by sellers, the value of the euro continued to decline. Currently, this scenario fits within the framework of a possible development of a diagonal triangle where wave iv is forming, representing a double zigzag correction.
The critical level is already very close, and a breakthrough of it would invalidate this wave scenario. To prevent this from happening, the euro needs to wake up and actively engage in the fight. Otherwise, there is a risk of prolonged downward movement.
In this situation, it is still not recommended to take any active trading actions. Some time will be needed to clarify the situation and identify possible entry points for various trading positions.
Investment idea: Flat.
Bob Stan
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