EUR/USD Diagonal triangle continued its development. | 02 April 2024
02 April 2024, EUR/USD
The euro can’t withstand the increasing strength of the dollar, continuing to lose its positions. The expected corrective growth did not happen. Probably, the diverging diagonal decided to continue its development. It turns out that wave 5 is lengthening, which in this model is the longest.
During today’s trading day, it is possible to continue the price decrease, but not significantly, after which the price may try to grow and begin forming a correction within the development of wave 2.
But to make trading decisions, it is necessary to wait for confirmation, so it is recommended to wait for clarification of the current situation and the appearance of any signals.
Investment idea: flat.
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.
