EUR/USD. Price is preparing for a reversal and impulsive growth. | 25 November 2024
25 November 2024, EUR/USD
The situation is fully developing within the current wave scenario. Apparently, the past trading week managed to complete the formation of a downward impulse, which is also wave C of a zigzag. One of the indirect signs of a possible reversal is the formation of long spikes at the very end of wave 5 development.
The structure also fits well into the five-wave structure. So there is every reason to expect a reversal in the price movement. The euro may jump up quite well in price, so it is worth considering the possibility of concluding buy transactions already at current market values.
Investment idea: buy 1.0440, stop loss 1.0415, take profit 1.0630.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
