EUR/USD: Ascending Impulse Completed, Correction Begins | 05 June 2024
05 June 2024, EUR/USD
The price has decided not to continue its upward movement, opting instead for a correction. To achieve this, wave 5 had to be shorter than wave 3, which has occurred. Additionally, wave 5 appears to be forming an ending diagonal triangle, indicating a significant downward price movement in the near future.
A correction is expected to form, and its specific nature will become clear over time. Meanwhile, consider the opportunity to enter sell positions targeting the local minimum established by wave 4.
Investment Idea: Sell at 1.0875, stop loss at 1.0900, take profit at 1.0785.
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.
