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EUR/USD. Probability of Further Upside Remains High.

EUR/USD. Probability of Further Upside Remains High. | 21 February 2024

21 February 2024, EUR/USD

EUR/USD. Probability of Further Upside Remains High.

Buyers wasted no time in breaking through the local support level. The sharp jump occurred on the same day as the assumption was made. At the moment, this movement is viewed as wave [3] of the upward impulsive movement. There is a sense that this wave may continue to extend.
In that case, we could witness an even more prolonged upward movement. Therefore, initiating and holding buy positions appears to be a promising decision.
The target for the upward movement remains around 1.1000.
Investment idea: Buy at 1.0820, stop loss at 1.0800, take profit at 1.1000.

Bob Stan
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