The Euro will try to grow. | 04 Diciembre 2023
04 Diciembre 2023, EUR/USD
The pair's growth has stalled. The price not only began to decline but also managed to form something very similar to an impulse. This can be interpreted as a wave A correction taking the form of a zigzag. Further growth is expected as part of the development of wave B. With a high probability, there won't be an update of the current local maximum established by wave III. The price will increase to the 61.8% level of wave A, after which it will start forming wave C.
In this situation, it is possible to consider short-term purchases at current market values with a target at the level of 1.0940.
Investment idea: Buy at 1.0875, stop loss at 1.0835, take profit at 1.0940.
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.
