EUR/USD. Development of the Third Wave of Upward Impulse. | 21 June 2024
21 June 2024, EUR/USD
The updated scenario with a simple zigzag is currently being confirmed. The previously formed impulse, identified as wave 1, was corrected by a minor decline during yesterday's trading session, forming wave 2. Now, there is a cautious attempt to rise, which potentially represents the next wave 3 of the emerging upward impulse.
If this is the case, we can expect a strong and prolonged upward movement. The euro will aim to break all the highs visible in the screenshot.
Therefore, it is advisable to consider cautious buying at the current market levels.
Investment Idea: Buy 1.0720, Stop Loss: 1.0700, Take Profit: 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.
