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EUR/USD. The price remains in a corrective phase.

EUR/USD. The price remains in a corrective phase. | 08 January 2024

08 January 2024, EUR/USD

The price has entered a zone of high turbulence, having made unsuccessful attempts at both decline and growth. Such behavior is typical of corrections. This phase is currently unfolding, with the presumed formation of wave ii in an emerging downward impulse.
While a zigzag is already present, and this wave could be considered complete, it is thought that the correction may become more complex. Therefore, it is advisable not to rush to any conclusions.
Today's trading day is recommended to be dedicated to observing the situation without taking any active trading actions. It is anticipated that something may become clearer by tomorrow.
Investment idea: Flat.
Bob Stan
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