EUR/USD. Correction development has begun. | 07 February 2025
07 February 2025, EUR/USD
The euro was not allowed to continue growing, although there was still some potential left. But that's how it turned out. The price is again under pressure from sellers, though it holds well, not letting it fall much below the current values.
Thus, presumably, the second extension wave is being formed, which is part of Wave 3. In the future, a movement similar to the one schematically indicated in the attached chart is expected. There doesn't seem to be any trading opportunity here, so for now, it is recommended to observe the development of events from the sidelines.
After the completion of the assumed correction, a strong impulsive movement is expected, driven by the development of Wave 3, but this, according to all indications, will happen no earlier than next week.
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.
