EUR/USD. The impulsive decline will continue. | 14 Noviembre 2024
14 Noviembre 2024, EUR/USD
The previous trading day was again successful for sellers. The price moved down calmly and confidently, updating the previously established local minimum. And there is no light at the end of the tunnel for buyers yet. The decline will continue today and possibly tomorrow. Presumably, the current wave in this movement is wave 5 of the downward impulse. However, it is possible that internal extensions will develop, and then this cascade will stretch for quite a long time, and the impulse will become protracted.
In this regard, it is recommended to keep the previously opened sell transactions active. At the same time, the protective stop loss order should be moved as close as possible to the current market value.
It is worth opening new positions at the update of the current local minimum.
Investment idea: sell 1.0550, stop loss 1.0570, take profit 1.0480.
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.
