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EUR/USD. The beginning of a decline in the third impulse wave may be possible.

EUR/USD. The beginning of a decline in the third impulse wave may be possible. | 10 April 2024

10 April 2024, EUR/USD

EUR/USD. The beginning of a decline in the third impulse wave may be possible.

The Euro managed to slightly update the local minimum, and all this recent upward movement began to resemble a small impulse. It is quite possible that in this way, the final wave c of 2 of the zigzag, which was supposed to correct the previously formed diagonal triangle, has formed.
In this case, we may soon see a resumption of the downward movement. Moreover, the movement claims to be quite prolonged, as indicated by the previously mentioned diagonal triangle.
Thus, one can try to cautiously sell on the update of the current local minimum.
Investment idea: sell 1.0845, stop loss 1.0870, take profit 1.0730.
Bob Stan
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