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EUR/USD. The development of the fifth impulse wave continues.

EUR/USD. The development of the fifth impulse wave continues. | 17 September 2024

17 September 2024, EUR/USD

EUR/USD. The development of the fifth impulse wave continues.

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.
Bob Stan
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