EUR/USD. A corrective uptrend in price is expected. | 07 Octubre 2024
07 Octubre 2024, EUR/USD
The final trading day of the past week turned out to be a failure for buyers. Instead of starting to form the correction that was planned after what seemed to be a completed downward impulse, the price powerfully crashed even lower. All this decline is still viewed as an impulsive one with equally extended third and fifth waves.
The new week is likely to begin with buyers' attempts to rectify their position. Already now it is noticeable how the price timidly looks up. But what all this will ultimately lead to will become known later.
Right now, it's worth trying to buy at current market values to take part in the anticipated corrective movement.
Investment idea: buy 1.0980, stop loss 1.0960, take profit 1.1030.
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.
