Main >
Analytics
>
Fresh forecast
>
Elliott waves analysis
>
EUR/USD. The beginning of a corrective uptrend through the update of the current minimum.

EUR/USD. The beginning of a corrective uptrend through the update of the current minimum. | 16 October 2024

16 October 2024, EUR/USD

EUR/USD. The beginning of a corrective uptrend through the update of the current minimum.

Buyers are unable to take the initiative into their own hands and start moving in the desired direction for them. They only have enough strength to hold back their opponents, while still having to retreat. In the near future, we are likely to see an update of the current local minimum again. However, the course is unlikely to sink significantly.
One small step back will allow the formation of wave 5, roughly the same length as 3, and this corresponds to the nature of impulsive waves, where the first wave is elongated.
Thus, immediately after this, the price may start growing, beginning the formation of a correctional phase of the market. In this regard, on the update of the current minimum, try to open buy deals.
Investment idea: buy 1.0855, stop loss 1.0820, take profit 1.1000.
Bob Stan
Agree with the review?
Traders' opinion:
Close
Login

Tunjukkan kata laluan

Hide password

 Terlupa kata laluan anda?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.