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EUR/USD. Growth is expected in the forming zigzag.

EUR/USD. Growth is expected in the forming zigzag. | 08 April 2024

08 April 2024, EUR/USD

EUR/USD. Growth is expected in the forming zigzag.

The price continues its movement within the presumed correction, taking the form of a simple zigzag. After a strong rise, there was a reasonable reaction, leading to a deep corrective pullback. However, buyers responded again and managed to rectify the situation. Presumably, during this activity, wave b of 2 was formed.
Subsequently, we can expect an impulsive rise, aimed at forming wave c of 2, thereby completing the formation of the correctional pattern. The potential of this upward movement allows for participation, so it is recommended to consider the possibility of entering a buy position on a breakout above the level of 1.0840.
Investment idea: Buy at 1.0840, stop loss at 1.0820, take profit at 1.0920.

Bob Stan
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