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EUR/USD. Possible scenario with impulsive decline and a slight corrective rise.

EUR/USD. Possible scenario with impulsive decline and a slight corrective rise. | 06 December 2023

06 December 2023, EUR/USD

EUR/USD. Possible scenario with impulsive decline and a slight corrective rise.

The price, contrary to expectations of growth that implied the development of the final part of the ascending impulse, continued to decline even deeper. While it is not critical, considering an alternative option may be worthwhile. It is possible that the growth that began at the end of September is not impulsive but corrective, representing a simple zigzag and wave b or ii in a larger zigzag or impulse. In that case, the decline in the near future will not only not be completed but will also become more rapid. However, before that, the price will form a correction, representing wave ii.
Therefore, in the near future, one can consider the option of cautious purchases from 1.0755.
Investment idea: Buy at 1.0755, stop loss at 1.0720, take profit at 1.0850.

Bob Stan
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