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EUR/USD. The situation remains favorable for purchases.

EUR/USD. The situation remains favorable for purchases. | 23 September 2024

23 September 2024, EUR/USD

EUR/USD. The situation remains favorable for purchases.

The situation overall remains within the framework of the previously considered scenario. Currently, it appears that the formation of the final wave 5 of the uptrend impulse is underway, which itself is an impulse.
To complete the development of the entire structure, waves 3, 4, and 5 are needed. This means that there remains a good potential for further uptrend movement.
Concluding purchase transactions in this situation is a very promising trading decision. To enter positions, it is necessary to wait for the update of the current local maximum. Until then, the price may continue to remain within the forming correction.
Thus, the situation retains a good bullish perspective.
Investment idea: buy 1.1190, stop loss 1.1165, take profit 1.1320.
Bob Stan
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