EUR/USD. The Market Continues to Develop a Correction.
EUR/USD. The Market Continues to Develop a Correction. | 02 Agosto 2024
02 Agosto 2024, EUR/USD
Buyers have encountered difficulties in resuming the upward impulsive movement. Their hesitation was exploited by their counterparts, leading to another step down on the descending path. This price movement aligns well with the expected development of the correction, likely taking the form of a double zigzag in wave 2.
In this scenario, the price may decline slightly more before reversing and starting an impulsive upward movement in wave 3. It is also possible that the rise could begin from the current levels. In any case, it is advisable to wait for confirmation in the form of a bullish wave and then attempt to enter buy trades on the subsequent pullback.
Until then, it is best to observe the market developments and stay out of any trading positions.
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.