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EUR/USD. Development of the Corrective Movement Will Continue.

EUR/USD. Development of the Corrective Movement Will Continue. | 24 July 2024

24 July 2024, EUR/USD

EUR/USD. Development of the Corrective Movement Will Continue.

The price, instead of continuing to trade within a narrow range, unexpectedly started moving. The euro began to decline again and updated its local minimum. This led to the formation of a zigzag, which is unlikely to be considered complete.
Most likely, the decline will continue, but the potential for further movement is limited. Therefore, entering any trading positions is not advisable. The price from the current levels may start to rise, considering the zigzag and wave 2 completed.
So, a small pause before making a decision will not be unnecessary. The situation will become clearer and may present a much more understandable and profitable entry point.
Investment idea: flat.
Bob Stan
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