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EUR/USD. Expectations for the development of the final wave of the downward impulse remain.

EUR/USD. Expectations for the development of the final wave of the downward impulse remain. | 20 November 2024

20 November 2024, EUR/USD

The forecast for the current situation has been partially realized. The price, under pressure from sales, indeed headed down, but the current minimum was not updated. Instead, buyers suddenly became active, bringing the value back to the starting point of the movement. Apparently, this continued the development of correction wave 4, which is becoming very similar to a double three.
However, the issue with the final wave 5 remains unresolved. Another downward movement is needed for the full picture. It is possible that the price will head down again soon and eventually update the current minimum.
Investment idea: sell 1.0565, stop loss 1.0580, take profit 1.0460.
Bob Stan
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