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EUR/USD. Price is in a sideways range before the final downward push.

EUR/USD. Price is in a sideways range before the final downward push. | 18 November 2024

18 November 2024, EUR/USD

The situation for this pair continues to develop within the main wave scenario. According to this scenario, a downward impulse is forming, which is part of a simple zigzag. At the moment, wave 4, which is a correction, is forming. This means that if this is indeed the case, we will see another downward wave in the future to complete this bearish impulse structure.
Before that, the value of the euro against the dollar will remain in its current equilibrium state, in other words, the development of correction wave 4 will continue. The expected movement pattern is shown on the provided chart.
Thus, it is not recommended to make any trading decisions in the current situation.
Investment idea: flat.
Bob Stan
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