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EUR/USD. The rise will soon be followed by a pullback.

EUR/USD. The rise will soon be followed by a pullback. | 05 July 2024

05 July 2024, EUR/USD

EUR/USD. The rise will soon be followed by a pullback.

The past trading day was once again successful for euro supporters. The price increased and managed to update the local high. However, this may be the end for now. There is still a small potential for further growth. Currently, it is assumed that the upward impulse is coming to an end, meaning wave 5 is forming. In this case, the expected decline will be corrective, but a strong pullback is unlikely. Given the current situation, it is not recommended to open any trading positions as the growth potential is minimal, and the conditions for a decline have not yet formed.
Investment idea: Flat.
Bob Stan
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