EUR/USD: Euro Aiming for New High | 03 June 2024
03 June 2024, EUR/USD
The euro, having created a favorable situation with an initial diagonal triangle, hasn't fully capitalized on it. The price has entered a prolonged correction, resembling a flat pattern. This may be wave 4 in the observed upward movement. In this case, the attempt to update the current local high is seen as wave 5. Overall, the entire growth fits into the initial diagonal triangle. If this is indeed the case, a prolonged upward movement is expected.
However, these are more long-term probabilities. Locally, it is possible to consider buying at current market levels with the goal of surpassing the high established by wave 3.
Investment Idea: Buy at 1.0860, stop loss at 1.0835, take profit at 1.0925.
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.
