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EUR/USD. Expectations of a response from buyers remain.

EUR/USD. Expectations of a response from buyers remain. | 24 October 2024

24 October 2024, EUR/USD

EUR/USD. Expectations of a response from buyers remain.

The dollar continued its active strengthening, which led to another update of the previously established price minimums. Now it all looks like a downward impulse, in which wave 1 is elongated, and wave 5, judging by all indications, risks becoming the shortest. Although there is a chance to fall even lower, extending the formation of the specified wave 5.
Either way, a sudden surge in activity from buyers is coming. A protracted downward movement requires an appropriate response or at least a protracted sideways movement.
Throughout the remaining trading days, it is worth observing how events will unfold. You cannot exclude the possibility that the price will start growing directly from the current market values, although, as already indicated, the cost of euros may fall a little further.
Buy deals should be opened on a trend break, above the level of 1.0810.
Investment idea: buy 1.0810, stop loss 1.0785, take profit 1.0930.
Bob Stan
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