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EUR/USD. The development of the correction in the fifth wave of the upward impulse has begun.

EUR/USD. The development of the correction in the fifth wave of the upward impulse has begun. | 19 September 2024

19 September 2024, EUR/USD

EUR/USD. The development of the correction in the fifth wave of the upward impulse has begun.

The euro decided to continue its strengthening, which initially led to an increase in the considered trading pair. However, this did not please the sellers, who quickly reacted to this decision and rudely interrupted this march to new heights.
This reaction was unexpected for buyers, as the price began to sink heavily without encountering any counter resistance. Suspicions arise that the euro will cope with this pressure for some time, and while the price will continue to sink. The observed decline is assumed to be of a corrective nature and will take the form of a zigzag, after which growth will resume.
All this is within the framework of the forming wave 5 of the uptrend impulse.
Opening any positions is not recommended for now.
Investment idea: flat.
Bob Stan
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