EUR/USD. Corrective Rebound. | 12 April 2024
12 April 2024, EUR/USD
However, it's noticeable that the euro is beginning to resist. The price occasionally rises before falling again. Currently, there's another attempt to recover lost positions, and this time it might be successful.
The swift decline seems very much like a fully formed impulse. If that's the case, the next step would be a correction of this impulsive movement. The likely upward movement may take the form of a simple zigzag, though the development of a more complex pattern should not be ruled out.
In this situation, considering short-term buying opportunities with a small target might be appropriate.
Investment idea: buy at 1.0725, stop loss at 1.0700, take profit at 1.0785.
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.
