EUR/USD. The Growth Turned Out to Be False. | 19 April 2024
19 April 2024, EUR/USD
The happiness of buyers was short-lived. The rise turned out to be a correction with insignificant progress. Now we are witnessing how all the efforts of buyers are crumbling. The price has come close to the previously established minimum with a clear intention to update it.
Apparently, we are not dealing with a simple corrective zigzag, but a full-fledged downward impulse, and even with elongation in wave 3. If this is indeed the case, then in the near future, we may see a significant price decline as part of the development of wave 3 of 3.
In connection with this, it is worth changing the bullish sentiment to bearish and trying to sell.
Investment Idea: Sell at 1.0610, stop loss at 1.0635, take profit at 1.0500.
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.
