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EUR/USD. Expectations for an impulsive decline in the pair persist.

EUR/USD. Expectations for an impulsive decline in the pair persist. | 09 February 2024

09 February 2024, EUR/USD

The price attempted to resume the impulsive decline, but the euro vehemently opposed this idea, halting the movement and attempting to rise. Currently, all movement is within a narrow price range and is considered a continuation of the presumed corrective wave [2].
Therefore, after another small wave of growth, a reversal may occur, initiating the expected impulsive decline driven by the development of wave [3] of the descending impulse.
Selling in this case is recommended upon a breakout of the same local minimum established by wave [1].
Investment idea: Sell at 1.0725, stop loss at 1.0750, take profit at 1.0600.

Bob Stan
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