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EUR/USD. The rise within the zigzag is likely to continue.

EUR/USD. The rise within the zigzag is likely to continue. | 09 April 2024

09 April 2024, EUR/USD

EUR/USD. The rise within the zigzag is likely to continue.

The situation continues to evolve according to the previously considered wave scenario. The euro is cautiously rising, having reached a local resistance level set by the presumed wave a of the forming zigzag. There is a high likelihood that the upward movement will continue, driven by the development of the final wave c of 2, still part of the corrective model.
The potential for movement remains modest, so opening buy transactions at current market values is possible, but expecting a strong movement is unlikely. It's also necessary to consider that after the completion of this upward movement, a resumption of the price decrease is expected unless the euro has some significant argument up its sleeve that could substantially influence the situation.
Investment idea: Buy at 1.0865, stop loss at 1.0850, take profit at 1.0900.

Bob Stan
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