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EUR/USD. The last chance for the development of the fifth wave of an upward impulse.

EUR/USD. The last chance for the development of the fifth wave of an upward impulse. | 12 September 2024

12 September 2024, EUR/USD

EUR/USD. The last chance for the development of the fifth wave of an upward impulse.

During the past trading day, both sides apparently fought for initiative. The price first tried to rise, but supporters of the dollar disagreed and, strengthening their pressure, sent the price down to update the local minimum. In this clash, sellers were stronger. However, they didn't achieve great success. The price remained near the critical level, barely passing it. This is quite acceptable for impulsive models, now buyers need to urgently start pushing the price up to form a reasonable impulsive growth driven by the development of the final fifth wave.
Based on this assumption, one can try to buy again, setting a protective stop loss at the formed minimum.
Investment idea: buy 1.1025, stop loss 1.1000, take profit 1.1200.
Bob Stan
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