EUR/USD. Another wave down before the reversal. | 10 January 2025
10 January 2025, EUR/USD
The euro is still unable to cope with the renewed pressure from the dollar. The price spent the entire past trading day in a very narrow range. With a high degree of probability, the exit from this range will be downwards. And just nearby is the previously set minimum, the update of which will force adjustments to the current wave marking.
Until this happens, there is a chance for the realization of a variant involving the formation of a corrective decline within the development of Wave 2 in an emerging upward impulse. Then the expected bearish wave development in the near future will end before the designated critical level, and the euro exchange rate will start to rise, forming Wave 3 of the expected bullish impulse.
In this situation, cautious sales within the current trading day can be attempted.
Investment idea: Sell 1.0290, Stop Loss 1.0305, Take Profit 1.0240.
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.
