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EUR/USD. Another opportunity to change the situation.

EUR/USD. Another opportunity to change the situation. | 17 October 2024

17 October 2024, EUR/USD

EUR/USD. Another opportunity to change the situation.

The euro is unable to start adequately resisting the attacks from sellers. Another trading day resulted in a decline, and with it, an update of the local price minimum. This development was expected and currently fits well into the considered wave picture. However, buyers need to start making an effort to somehow change the situation.
Currently, the supposed waves 3 and 5 are of equal length, and further decline will be detrimental to the current scenario. It is quite possible that from the current point, the long-awaited reaction will begin, and we will finally see the formation of a corrective uptrend movement.
Thus, it is recommended to try buying again at current market values.
Investment idea: buy 1.0870, stop loss 1.0845, take profit 1.1000.
Bob Stan
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