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EUR/USD. The initiative remains on the side of the buyers

EUR/USD. The initiative remains on the side of the buyers | 29 November 2024

29 November 2024, EUR/USD

EUR/USD. The initiative remains on the side of the buyers

Buyers decided not to rush things, choosing a more calm character for their upward movement. The local maximum was not updated during the last trading day, and a smooth corrective decline continued. However, today it is expected that activity from the euro will increase, leading to the development of further waves of upward momentum, which is currently assumed.
Moreover, the momentum is likely to form with an elongation in the third wave, indicating a potentially prolonged upward movement. In this regard, it is recommended to continue holding open buy positions. Also, if possible, it is worth buying at current market values.
Investment idea: buy 1.0560, stop loss 1.0535, take profit 1.0750.
Bob Stan
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