EUR/USD. The correction continues. | 31 January 2025

The price was unable to resume its upward movement during the previous trading day, although it did attempt to do so, but the attempt was unsuccessful. The buyers' enthusiasm was quickly dampened, and the minor upward spike was immediately halted, with the price returning to the starting point of this growth attempt. It seems that the correction is still ongoing, and there is a high probability that the price may decline a bit further. Thus, it is expected that the second wave in the emerging upward impulse movement is close to completion. After that, the price will begin a directional move driven by the development of the third wave, and at that point, one can try to profit from it. However, this is likely to happen next week, so it is not recommended to take any trading actions for now. Investment idea: Range.