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EUR/USD. The Price Remains Positive.

EUR/USD. The Price Remains Positive. | 13 Agosto 2024

13 Agosto 2024, EUR/USD

EUR/USD. The Price Remains Positive.

Market calm persists, with volatility significantly lower than at the beginning of this month. It seems that the market is in an accumulation phase before the next strong directional movement. The current price chart and overall situation suggest a resumption of the upward movement. This is because the ongoing correction resembles a zigzag pattern, likely forming as wave 2.
The price is making a weak but noticeable attempt to rise. At any moment, a surge in activity could push the price to new highs, potentially driven by the development of wave 3. The previously identified signal level has been breached, but the price has yet to firmly establish itself above it.
In this scenario, it is still reasonable to attempt buying with a manageable level of risk.
Investment Idea: Buy at 1.0940, stop loss at 1.0910, take profit at 1.1100.
Bob Stan
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