EUR/USD. Growth is expected in the forming zigzag. | 08 April 2024
08 April 2024, EUR/USD
The price continues its movement within the presumed correction, taking the form of a simple zigzag. After a strong rise, there was a reasonable reaction, leading to a deep corrective pullback. However, buyers responded again and managed to rectify the situation. Presumably, during this activity, wave b of 2 was formed.
Subsequently, we can expect an impulsive rise, aimed at forming wave c of 2, thereby completing the formation of the correctional pattern. The potential of this upward movement allows for participation, so it is recommended to consider the possibility of entering a buy position on a breakout above the level of 1.0840.
Investment idea: Buy at 1.0840, stop loss at 1.0820, take profit at 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.
