EUR/USD. Bullish scenario remains viable. | 16 December 2024
16 December 2024, EUR/USD
Despite the failure of buyers to reverse the course of the EUR/USD pair, the market retains the potential for a bullish scenario. The fact that the price returned to the original level after the previous decline indicates that the initial diagonal triangle may still be intact. This provides optimism ahead of the new trading week, where the third wave of the emerging bullish impulse could commence.
If this occurs, the price may experience a significant rise, with the potential target set at 1.1000. Therefore, maintaining a cautious approach and waiting for confirmation of the bullish trend before entering buy positions seems prudent.
Investment Idea: buy 1.0535, stop loss 1.0510, take profit 1.1000.
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.
