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EUR/USD: Potential Resumption of Decline within Forming Correction.

EUR/USD: Potential Resumption of Decline within Forming Correction. | 19 June 2024

19 June 2024, EUR/USD

EUR/USD: Potential Resumption of Decline within Forming Correction.

The anticipated deception from the euro materialized, leading to the decision not to hastily sell at yesterday's market prices. After showing an intention to move downward, the price suddenly reversed, quickly updating the current local maximum. This movement caught sellers off guard, but they promptly responded, curbing the upward movement of their opponents.
The market has since stabilized, allowing for the beginning of a proper impulsive decline to complete the formation of the double zigzag.
Investment Idea: sell 1.0730, Stop Loss: 1.0755 Take Profit: 1.0650
Bob Stan
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