EUR/USD. Awaiting the start of the third impulse wave development. | 17 January 2025
17 January 2025, EUR/USD
As expected, after completing the development of Wave 1, which took the form of a classic impulse, the price retraced and entered a correction. Throughout the past day, the rate fluctuated within a narrow range, and there's still no certainty that anything will change today in this regard.
The most probable scenario suggests that the price will attempt to decline, but as soon as it updates the local minimum, buyers will step in again. This time, the upward movement will be much more sustained, as it will be driven by the formation of Wave 3.
Given this, the current situation should be viewed as an opportunity to enter into buy transactions.
Investment idea: Buy 1.0350, Stop Loss 1.0325, Take Profit 1.0630.
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.
