EUR/USD. The Euro tries to seize the opportunity. | 16 February 2024
16 February 2024, EUR/USD
Apparently, the scenario I proposed for the development of events appealed to the Euro, and it is making every effort to realize it. During the last trading day, the exchange rate continued to cautiously rise, approaching the level of breaking the downward trend.
Buyers didn't spend all their strength at once, choosing to take a little break and pause, which is currently leading to the development of a correction. Overall, this entire rise looks very much like an impulse, so the correction currently observed within it is the fourth wave. Further, another wave of growth, and the initial impulse will be formed.
Thus, opening buy positions in the current situation seems to be a promising trading decision.
Investment idea: Buy at 1.0775, stop loss at 1.0745, take profit at 1.1000.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
