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EUR/USD. The impulsive decline will continue.

EUR/USD. The impulsive decline will continue. | 14 November 2024

14 November 2024, EUR/USD

EUR/USD. The impulsive decline will continue.

The previous trading day was again successful for sellers. The price moved down calmly and confidently, updating the previously established local minimum. And there is no light at the end of the tunnel for buyers yet. The decline will continue today and possibly tomorrow. Presumably, the current wave in this movement is wave 5 of the downward impulse. However, it is possible that internal extensions will develop, and then this cascade will stretch for quite a long time, and the impulse will become protracted.
In this regard, it is recommended to keep the previously opened sell transactions active. At the same time, the protective stop loss order should be moved as close as possible to the current market value.
It is worth opening new positions at the update of the current local minimum.
Investment idea: sell 1.0550, stop loss 1.0570, take profit 1.0480.
Bob Stan
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