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EUR/USD. The price will attempt to rise.

EUR/USD. The price will attempt to rise. | 26 January 2024

26 January 2024, EUR/USD

EUR/USD. The price will attempt to rise.

The situation with the considered pair during the last trading day unfolded as expected. However, the movements turned out to be more extensive than anticipated. The price even slightly updated the local minimum. Nevertheless, all the movement that occurred is considered a correction forming within wave ii of an emerging downward impulse.
Therefore, today, the price will attempt to rise in order to build the final wave of a zigzag and thereby complete the entire correction.
The upward movement in this case is expected to be in impulse form. It is possible to consider cautious purchases at current market values with a protective stop loss set at the previously formed minimum.
Investment idea: Buy at 1.0850, stop loss at 1.0825, take profit at 1.0950.

Bob Stan
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