EURUSD: SELL 1.1020, SL 1.1055, TP 1.0800 | 08 April 2025
08 April 2025, EUR/USD
Continuing growth has run into problems. It appears that buyers believe they've constructed a sufficiently convincing upward impulse and deserve a rest. Their opponents wasted no time in exploiting this opportunity, sending the price tumbling. This chaotic descent likely marks the beginning of a significant downward correction driven by the formation of Wave 4.
If this assessment is correct, we can expect to see substantial declines in the near future, punctuated by sporadic attempts by the euro to retaliate and regain control.
To enter sell trades in this situation, it is advisable to wait for a minor corrective bounce upwards to the region of 1.1020 before attempting to sell.
Investment idea: SELL 1.1020, SL 1.1055, TP 1.0800.
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.
