EUR/USD. Expected development of an upward impulse growth. | 08 January 2025
08 January 2025, EUR/USD
The decline that was supposed to be a correction in the form of a zigzag turned out to be incorrect. The price formed another wave, which is very similar to a diverging ending diagonal triangle. Immediately after this, the price surged upwards, confirming the development of the indicated model.
It is possible that the recent impulsive surge in price is due to the formation of the first wave in an emerging upward impulse. In this case, it is likely that the price will continue to rise in the near future. The minimum distance the price will cover is the size of the ending diagonal triangle.
In this situation, it is recommended to open buy trades when the current local maximum is updated at 1.0435.
Investment idea: buy 1.0435, stop loss 1.0400, take profit 1.0625.
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.
