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EUR/USD. Resumption of Upward Impulse Movement.

EUR/USD. Resumption of Upward Impulse Movement. | 25 July 2024

25 July 2024, EUR/USD

EUR/USD. Resumption of Upward Impulse Movement.

Over the past trading day, there were minor changes in the wave pattern of this pair. The price calmly updated the local minimum and attempted a sharp rise. However, alert sellers managed to dampen the buyers' momentum, bringing the price back to the level where this small jump began.
It is possible that the first impulsive waves, which may be part of the emerging wave 3, have formed. If this is the case, buyers will likely make more aggressive attempts to push the price higher in the near future, leading to significant results. Breaking the recent high will be a matter of time.
Therefore, it might be worth considering buying opportunities on the breakout of the local high formed during yesterday's trading session.
Investment idea: buy at 1.0865, stop loss at 1.0840, take profit at 1.0950.

Bob Stan
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