EUR/USD. Euro under pressure. | 10 Septiembre 2024
10 Septiembre 2024, EUR/USD
Pressure from the dollar creates serious problems for the euro. The exchange rate dropped so much that it reached a local minimum and there is a threat of further decline. This could lead to a change in the current wave pattern. To blame for this is the proximity of the maximum of the supposed wave 1, just a little more and the price will go beyond it. But fourth waves cannot do this, which means it is another wave structure. It can be a diagonal triangle. This option is the only salvation for the bullish market.
Today, probably, everything will become clearer. If the price is not allowed to fall below, the implementation of the option with the development of the final wave 5 in the uptrend impulse is possible. Otherwise, you need to watch how everything develops dynamically.
In this situation, opening any trading positions is extremely risky, so it is recommended to stay out of the market and follow what is happening from the outside.
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