EUR/USD. Expectations for impulsive price growth remain. | 04 December 2024
04 December 2024, EUR/USD
As expected, the price once again attempted to grow. For now, it has only rebounded, but this could be the beginning of something bigger. It was previously hypothesized that perhaps an initial diagonal triangle is currently developing. This model lacks the final fifth wave, whose formation we are likely observing right now.
If this is true, the price will continue to rise in the near future and will try to reach the upper limit of the specified wave model. The expected movement scheme is marked on the chart. It is also worth noting that the initial diagonal triangle indicates potentially strong price movement in the direction of its development, in our case, growth.
Based on this, it is worth considering the possibility of concluding buy trades.
Investment idea: buy 1.0530, stop loss 1.0500, take profit 1.0700.
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.
