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EUR/USD. Correction in the final diagonal triangle.

EUR/USD. Correction in the final diagonal triangle. | 26 September 2024

26 September 2024, EUR/USD

EUR/USD. Correction in the final diagonal triangle.

The price began to be thrown around and tossed from side to side. At the same time, everything seems to be within the framework of the assumed scenario. The sudden decline after a slight update of the local maximum is likely due to the development of the corrective wave 4 in the forming final diagonal triangle.
If this is indeed the case, the subsequent decline will continue, and we are likely to see the formed zigzag, approximately as it is schematically indicated on the provided graph. There is little reserve in this movement, so it is not recommended to consider the current situation for trading yet. It is advisable to wait for the completion of this corrective decline and seek buying opportunities during the development of wave 5.
Investment idea: flat.
Bob Stan
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