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EUR/USD. The Euro Intends to Take the Lead Once and for All.

EUR/USD. The Euro Intends to Take the Lead Once and for All. | 18 April 2024

18 April 2024, EUR/USD

EUR/USD. The Euro Intends to Take the Lead Once and for All.

The euro refuses to retreat further, starting attempts to recover. So far, things are going fairly well, and the last trading day ended on a positive note. However, the target of this upward movement is still not entirely clear: whether it's a correction or the beginning of a prolonged upward impulse movement.
If the correction in the form of a zigzag with an initial diagonal triangle as wave 1 has already completed, then the observed growth is the beginning of an upward impulse movement. Otherwise, the price will soon reverse and go even lower than the current local lows.
The bullish scenario is currently more preferable, so it is recommended to maintain previously opened long positions, while considering new buying opportunities.
Investment Idea: Buy at 1.0680, Stop Loss at 1.0650, Take Profit at 1.0750.

Bob Stan
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