EUR/USD. Potential for decline persists. | 13 January 2025
13 January 2025, EUR/USD
Apparently, the current price decline is forming within the context of an ending diagonal triangle. Wave 3 in this model appears to be more extended than initially thought. Updating the minimum during the final trading session of the past week indicates the development of Wave 5 of 5.
At present, this wave retains some potential for further development. The target zone where the completion of the fifth wave, along with the entire downward movement, is expected lies on the lower boundary of the ending diagonal triangle.
Therefore, either consider the possibility of entering into short-term sell transactions or wait until the entire structure is completed and the price, reaching the designated target zone, starts to rise, opening longer-term buy positions.
Investment idea: Sell 1.0240, Stop Loss 1.0265, Take Profit 1.0150.
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.
