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EUR/USD. The Dollar May Once Again Exert Pressure on the Euro.

EUR/USD. The Dollar May Once Again Exert Pressure on the Euro. | 24 April 2024

24 April 2024, EUR/USD

EUR/USD. The Dollar May Once Again Exert Pressure on the Euro.

The situation is developing according to the expected scenario. The euro has slightly risen, but for now, this movement is considered part of corrective wave 4. It's also entirely possible to consider this wave complete. In this case, today's trading day may once again be dominated by the American currency. The decline will be impulsive and lead to a retesting of the current minimum.
That's the ideal scenario. In reality, the correction could become more complex, and the price may continue to move horizontally. Nevertheless, upon a breakout of the designated minimum of the current correction, selling positions could be attempted, preferably immediately moving the position to break even if possible.
Investment Idea: Sell at 1.0700, stop loss at 1.0725, take profit at 1.0620.

Bob Stan
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