EUR/USD. Impulsive growth expected in the fifth wave. | 07 May 2024
07 May 2024, EUR/USD
The situation remains relatively stable. Activity is subdued, and the price is trading within a defined range, indicating a corrective movement. It's possible that wave 4 is developing within an elongated wave 3. If this is the case, we can expect a resumption of price growth in the near future.
Moreover, the movement in wave 5 could be the longest, as waves 1 and 3 of 3 are approximately equal. In this scenario, there is a good opportunity to enter promising buy positions at the current market levels.
Investment idea: Buy at 1.0775, stop loss at 1.0750, take profit at 1.0850.
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.
