EUR/USD price is trying to form the fifth wave of a diagonal triangle. | 26 March 2024
26 March 2024, EUR/USD
The price, after a fairly sharp and powerful decline, was able not only to stop, but also to start moving in the opposite direction. Such a scenario was expected, but further progress is needed for its full implementation.
Currently, the situation is seen as the formation of a diagonal triangle, in which the previously observed decline appears as a double zigzag within wave IV. Then the current growth is wave V and is currently at the initial stage of its development.
Thus, one can try to cautiously buy at current market values. Investment idea: buy 1.0845, stop loss 1.0820, take profit 1.0920
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.
