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EUR/USD. Expectations of a corrective uptrend remain.

EUR/USD. Expectations of a corrective uptrend remain. | 08 Octubre 2024

08 Octubre 2024, EUR/USD

EUR/USD. Expectations of a corrective uptrend remain.

The beginning of the trading week was quite sluggish. The price spent the whole day in a sleepy state, which accounts for the low activity that did not lead to any movements. In fact, the rate remained in the same place as in the last minutes of the Friday trading session. Apparently, all the interesting stuff has been postponed for some time. Given this, it is still assumed that the previous impulsive decline, which is part of some large correctional structure, has been completed.
The following stop, presumably, is an attempt by buyers to respond to this decline. In this regard, the price may rise in the near future along a zigzag trajectory.
Thus, it is possible to try to buy cautiously at current market values.
Investment idea: buy 1.0985, stop loss 1.0965, take profit 1.1040.
Bob Stan
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