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EUR/USD. The price may start rising again.

EUR/USD. The price may start rising again. | 10 July 2024

10 July 2024, EUR/USD

EUR/USD. The price may start rising again.

The price continues to follow the previously outlined plan. The past day once again saw a slight advantage for sellers, causing the euro to dip further against the dollar. This corrective decline may now be coming to an end. If buyers re-engage, they could push the price to update the current local maximum, nearing the May high. This is likely due to the formation of an extending wave 3, with this burst of buying activity completing its formation. The potential movement suggests that this situation could be good for buying, so it is recommended to consider entering buy positions at the current market levels.
Investment idea: buy 1.0815, stop loss 1.0790, take profit 1.0870.
Bob Stan
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