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EUR/USD. The Euro Tries to Maximize Gains from the Current Situation.

EUR/USD. The Euro Tries to Maximize Gains from the Current Situation. | 18 July 2024

18 July 2024, EUR/USD

EUR/USD. The Euro Tries to Maximize Gains from the Current Situation.

The assumption about the completion of the upward impulse movement turned out to be incorrect. After a slight pullback, the price went up again and renewed the previously established high. The current situation now looks very much like an impulse with an extended wave 3, where the final part is currently developing.
It is quite possible that during today's trading session, the price will update the high once more, thereby completing the development of not only wave 5 but the entire prolonged impulse. After this, a corrective decline will begin, in which it will be worth participating again.
It is recommended to open trades after the current local high is updated once more. Until this happens, it is better to remain a bystander.
Investment idea: flat.
Bob Stan
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