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EUR/USD. Transition to a brief correction.

EUR/USD. Transition to a brief correction. | 21 October 2024

21 October 2024, EUR/USD

EUR/USD. Transition to a brief correction.

The assumption regarding the formation of an elongated wave 3 during the final trading session of the past week was confirmed. The price started rising, possibly beginning the formation of a corrective fourth wave within the developing downward impulse.
In this case, a further continuation of the correctional movement of the price is expected. Simply put, the pair will move in a certain price range for some time. For this reason, previously opened buy deals should be maximally secured by moving the stop loss closer to the current market value, or closing them altogether.
Investment idea: flat.
Bob Stan
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