EUR/USD. The development of the fifth impulse wave continues. | 17 September 2024
17 September 2024, EUR/USD
As expected, the new trading week began with activity from buyers. This led to another wave of growth and an update of the local maximum. Now this section of the uptrend is increasingly looking like an impulse. If the price continues to grow today and updates the local maximum, then an impulse will form, which means the price will enter the correctional stage, which may last an uncertain amount of time.
Previously opened deals should either be closed or protected by moving the protective stop loss order to the breakeven zone.
At the same time, the whole uptrend cycle remains unfinished, so on corrections we will continue to consider buying opportunities.
Investment idea: flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
