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EUR/USD: A Brief Pause Before Further Growth.

EUR/USD: A Brief Pause Before Further Growth. | 16 May 2024

16 May 2024, EUR/USD

EUR/USD: A Brief Pause Before Further Growth.

The situation continues to develop within the previously considered wave scenario. The euro is steadily rising, likely forming an extending wave 3 of the ascending impulse. However, a slight pause is currently anticipated, so it is recommended to close some of the previously opened positions.
Further growth is still expected since the formation of the impulse appears incomplete. However, this will happen later, as a correction, which may be prolonged, is now expected.
Given this, opening new trades is not recommended at this time.
Investment Idea: Flat.
Bob Stan
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