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EUR/USD. Upside movement on the verge of cancellation.

EUR/USD. Upside movement on the verge of cancellation. | 12 December 2024

12 December 2024, EUR/USD

EUR/USD. Upside movement on the verge of cancellation.

Sellers seized control, pushing the price beyond the boundary of the projected initial diagonal triangle. This may signify either a market error or the emergence of a bearish impulse wave within a downward trend.
At the moment, there is an attempt to return to the previous levels, but the price remains outside the range of the expected triangle. If this recovery succeeds, the euro may rise to 1.0670. Being ready to capitalize on this bounce is important, as it could signal the completion of the initial diagonal triangle, a strong bullish indicator.
A key confirmation would be a price consolidation above 1.0520, signaling the strength of buyers. This would support the expectation that the initial diagonal triangle is being finalized, providing a powerful bullish signal.
Investment idea: buy 1.0520, stop loss 1.0500, take profit 1.0670.
Bob Stan
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