EUR/USD. The development of corrective wave [4] is underway. | 29 Diciembre 2023

The updated wave labeling variant has received partial confirmation. The price, moving with momentum, slightly increased and updated the local maximum, then sharply reversed and moved downward. Possibly, the development of wave [4] has started in the considered ending diagonal triangle. If this is indeed the case, we will likely see the formation of a zigzag in the near future, approximately as indicated on the above chart. The potential movement appears insignificant, so considering this situation for trading is not recommended. It is advisable to wait for the moment when wave [4] completes and attempt to buy in wave [5] of v of v.

Investment Idea: Flat