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EUR/USD. Final stage of the uptrend phase.

EUR/USD. Final stage of the uptrend phase. | 30 September 2024

30 September 2024, EUR/USD

EUR/USD. Final stage of the uptrend phase.

Price jumps seemingly lacking any logic continued. At the moment, this chaos is considered as wave 5 in the uptrend impulse, which is a final diagonal triangle. In this model, presumably, the formation of the final fifth wave is also underway.
For this, buyers need to activate soon and make a breakthrough to the upper limit of the supposed final diagonal triangle. During this breakthrough, the price, with a high probability, will update the current maximum set by wave 3. But then a good rebound movement will begin.
Opening any trading positions in this situation is not recommended, as the reserve for the uptrend movement looks insignificant, and the time for sales has not yet come.
Investment idea: flat.
Bob Stan
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