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EUR/USD. The Growth Turned Out to Be False.

EUR/USD. The Growth Turned Out to Be False. | 19 April 2024

19 April 2024, EUR/USD

EUR/USD. The Growth Turned Out to Be False.

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.

Bob Stan
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