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EUR/USD. Start of the Next Upward Phase.

EUR/USD. Start of the Next Upward Phase. | 31 July 2024

31 July 2024, EUR/USD

EUR/USD. Start of the Next Upward Phase.

The price hurried to complete the correction. During the past trading day, there was another update of the minimum, followed by an attempt to recover the previously lost positions of the euro.
It is quite possible that this completed the formation of wave 2 in the emerging large upward impulse, taking the form of a double zigzag. If this is indeed the case, we can expect further strengthening of the euro in the near future, leading to the renewal of the maximum established by wave 1.
Thus, making buy trades appears to be a very promising trading decision, and it is recommended to seriously consider the opportunity presented by the market.
Investment idea: buy at 1.0825, stop loss at 1.0800, take profit at 1.1000.

Bob Stan
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