EUR/USD. The Euro Attempts to Recover. | 17 أبريل 2024
17 أبريل 2024, EUR/USD
Throughout the past trading day, efforts were made to stabilize the situation. Buyers managed to dampen the selling pressure, resulting in a slight increase in price, but there was still a retracement back to the previously established lows.
Overall, the developing picture could either represent the third wave of a downward impulse, in which case the price would continue to decline impulsively after a minor correction or sideways movement, or it could be a zigzag pattern that is already formed, with the price working on a prolonged upward movement.
Regardless, I would recommend buying on the breakout of the local maximum formed during the previous trading session.
Investment Idea: Buy at 1.0650, with a stop loss at 1.0625 and a take profit target at 1.0750.
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.
