EUR/USD. An upward movement is expected in the final wave of the terminal diagonal triangle. | 02 Enero 2024
02 Enero 2024, EUR/USD
The implementation of the previously considered wave scenario with the presumed terminal diagonal triangle as wave v of v in the ascending impulse continues. After updating the November high, the price failed to solidify at the new levels, initiating the formation of corrective wave [4] of the specified model.
Now, another upward wave is anticipated to complete the entire ascending cycle. If expectations are met, we will witness the development of a diverging terminal diagonal triangle. In such models, the fifth wave is often truncated, so we may not see updates of the current local maximum.
In the current situation, one can consider the possibility of entering long positions slightly above the current market price.
Investment idea: Buy at 1.1050, stop loss at 1.1025, take profit at 1.1125.
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.
