EUR/USD. First wave of an emerging upward impulse has been formed. | 16 January 2025
16 January 2025, EUR/USD
The price did indeed attempt to grow. Initially, everything went quite well, with a local maximum being updated. However, sales then began, returning the rate to the starting point of this movement.
Currently, this upward surge followed by a subsequent decline closely resembles the fifth wave in an emerging upward impulse. Thus, it can be assumed that Wave 1 has been formed, and the observed decline is a correction, correspondingly assuming the status of Wave 2.
If this is truly the case, we may see a slight decrease in the near future, intended to complete the correction, after which the price will resume active growth.
In this situation, it is recommended to wait for the resumption of impulsive growth in Wave 3 and look for opportunities to enter into buy transactions.
Investment idea: Flat.
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.
