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EUR/USD. The price will continue to decline in the elongating third wave of the impulse.

EUR/USD. The price will continue to decline in the elongating third wave of the impulse. | 12 November 2024

12 November 2024, EUR/USD

The pressure from the dollar continued, leading to further downward movement. This is quite consistent with the wave scenario under consideration, which involves the development of a downward impulse. Presumably, wave 3 is currently forming, which is also elongating. Wave 3 is also developing within this elongation. If this is indeed the case, we will see a continuation of the downward movement in the near future.
In this regard, it is recommended to keep the previously opened sell positions active. It is also possible to consider opportunities for concluding additional transactions in the same direction.
Investment idea: sell 1.0650, stop loss 1.0680, take profit 1.0500.
Bob Stan
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