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EUR/USD. A corrective uptrend in price is expected.

EUR/USD. A corrective uptrend in price is expected. | 07 October 2024

07 October 2024, EUR/USD

EUR/USD. A corrective uptrend in price is expected.

The final trading day of the past week turned out to be a failure for buyers. Instead of starting to form the correction that was planned after what seemed to be a completed downward impulse, the price powerfully crashed even lower. All this decline is still viewed as an impulsive one with equally extended third and fifth waves.
The new week is likely to begin with buyers' attempts to rectify their position. Already now it is noticeable how the price timidly looks up. But what all this will ultimately lead to will become known later.
Right now, it's worth trying to buy at current market values to take part in the anticipated corrective movement.
Investment idea: buy 1.0980, stop loss 1.0960, take profit 1.1030.
Bob Stan
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