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EUR/USD. The price decided not to delay the development of the fifth impulse wave.

EUR/USD. The price decided not to delay the development of the fifth impulse wave. | 20 September 2024

20 September 2024, EUR/USD

EUR/USD. The price decided not to delay the development of the fifth impulse wave.

After the rough halt of the uptrend, the price began to slide down and it seemed that at least the entire situation would go according to the development of some kind of corrective wave structure. However, buyers managed to easily recover from such a blow, quickly returning the cost of the euro to the level of the recent decline.
And only here again there was a hitch, the price suddenly went down again. But this time too, buyers found resources to eliminate this movement. As a result, the initiative remained on their side, and in the near future we may see an attempt to continue growing.
This movement may be due to the development of wave 3 of 5, forming an uptrend impulse. Then, on the update of the local maximum, it is quite possible to try buying.
Investment idea: buy 1.1180, stop loss 1.1160, take profit 1.1250.

Bob Stan
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