EUR/USD. Buyers are showing signs of life. | 15 January 2025
15 January 2025, EUR/USD
The euro is beginning to show signs of life. Lately, things haven't been going too well for the single European currency. Since late August, the rate has consistently declined, doing so in an impulsive manner. Then, in Wave 5, the formation of an ending diagonal triangle began, signaling an imminent reversal in the direction of price movement.
Finally, with the start of the current trading week, the entire model has presumably been completed. Immediately following this, an attempt was made to initiate an upward movement, and so far, everything is working out quite successfully for buyers. They managed to grow slightly, but this is likely just the beginning.
Further continuation of the impulsive upward price movement is expected, so it is worth considering the possibility of concluding buy transactions.
Investment idea: Buy 1.0310, Stop Loss 1.0280, Take Profit 1.0650.
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.
