EUR/USD. The price remains under sales pressure. | 03 October 2024
03 October 2024, EUR/USD
The pressure on the price from sellers continued to be strong enough to continue the decline. As a result, the local minimum was updated, and all this downward movement fits well into impulsive frameworks. Currently, it is assumed that its fifth wave is being formed, which may end below the current values. After that, growth is expected, driven by the formation of a correction.
Due to the downward movement retaining the potential for further development, trading the considered pair is not recommended.
It is advisable to wait for the opportunity to enter buy deals to take the corrective movement, which could turn out to be minor if the price enters a range.
Investment idea: flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
