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EUR/USD. The price will continue to fall.

EUR/USD. The price will continue to fall. | 10 October 2024

10 October 2024, EUR/USD

EUR/USD. The price will continue to fall.

The euro was unable to take decisive action and start strengthening. Instead, the situation developed according to an alternative scenario. Breaking through the trendline, the price continued to fall. Ultimately, the movement in this direction may accelerate, and the pair may fall significantly. This movement is considered as wave 3 in the downward impulsive movement.
Since the formed wave 1 turned out to be quite extensive and apparently elongated, it is unlikely that wave 3 will be much longer. At the same time, there is a pretty good opportunity to enter sell deals at current market values.
Investment idea: sell 1.0935, stop loss 1.0955, take profit 1.0850.
Bob Stan
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