EUR/USD. The price is choosing the direction of further movement. | 09 Oktober 2024
09 Oktober 2024, EUR/USD
Both opposing sides are exercising caution, postponing the moment for the transition to the active phase. As a result, we see the development of some correctional structure, which can be broken both down and up with equal likelihood. Earlier, the bullish scenario was undoubtedly considered the priority option. This is due to the formation of an adequate corrective correction within the framework of the possible wave 2 of the emerging downward impulsive movement.
However, a breakout of the designated trendline may lead to further downward movement in the near future, so one should be careful and properly react to this event.
Thus, the situation has two possible scenarios for development, and it remains unclear which direction the market will choose, so rushing into trading decisions is not recommended.
Investment idea: flat.
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.
