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EUR/USD. The price continues to attempt a rise.

EUR/USD. The price continues to attempt a rise. | 31 January 2024

31 January 2024, EUR/USD

EUR/USD. The price continues to attempt a rise.

The euro is striving to improve its position and return to more comfortable levels. However, all these efforts may lead to exhaustion, ultimately resulting in a strong move in the opposite direction.
Essentially, we are likely witnessing a correction resembling a zigzag, within which its final wave c is forming. This scenario suggests an upward movement in the near future, as indicated on the provided chart. While there is still some potential, buying at current prices could be attempted, and at the first sharp movement, consider either transitioning the trade to break-even or closing it entirely.
Investment idea: Buy at 1.0840, stop loss at 1.0825, take profit at 1.0920.

Bob Stan
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