EURUSD: SELL 1.0475, SL 1.0500, TP 1.0380 | 28 February 2025
28 February 2025, EUR/USD
As expected, the price failed to overcome the previously established local high. After three unsuccessful attempts, buyers decided to cede initiative to their opponents. As a result, we are observing a decline during which a breakout of the lower boundary of the converging diagonal triangle occurred.
This model itself is likely Wave 1 in an emerging upward movement, and the decline observed at the moment is the corrective Wave 2. If this assumption is correct, we will see a continuation of the downward movement within the scope of this correction in the near future.
Thus, entering sell trades appears to be the most prudent trading decision.
Investment idea: SELL 1.0475, SL 1.0500, TP 1.0380.
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.
