EUR/USD. Expectations for the Development of the Third Wave of the Upward Impulse Remain. | 01 Agosto 2024

01 Agosto 2024, EUR/USD

EUR/USD. Expectations for the Development of the Third Wave of the Upward Impulse Remain.

The attempt to resume the upward impulse movement was unsuccessful. The price started moving up confidently but quickly lost momentum, pulling back to the starting point of the rise. However, the minimum was not updated, and currently, there is another attempt to push higher.
It is possible that the correction in the form of a double zigzag as wave 2 has been completed, and the observed attempts to rise are part of the next impulsive phase of the market. In this case, we might see a significant directional movement during which the maximum established by the presumed wave 1 will be updated.
Therefore, it is recommended to consider the possibility of entering buy trades at the current market levels, aiming to capture the breakout of the wave 1 maximum.
Investment idea: buy at 1.0835, stop loss at 1.0810, take profit at 1.1000.

Bob Stan
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.