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EUR/USD. Another attempt by the euro to rise.

EUR/USD. Another attempt by the euro to rise. | 02 July 2024

02 July 2024, EUR/USD

EUR/USD. Another attempt by the euro to rise.

During the last trading day, buyers sharply intensified. Their opponents were unprepared for this, leading to a rapid upward movement and the price breaking out of the converging final diagonal triangle. The previously suggested scenario is being confirmed. Thus, a prolonged impulsive rise is possible in the near future, during which the third wave of the emerging impulse will form. The potential trajectory of movement for the near term is indicated on the chart above. Therefore, entering buy positions in the current situation appears to be a good trading decision.
Investment idea: Buy at 1.0775, stop loss at 1.0745, take profit at 1.0820.

Bob Stan
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