EUR/USD. A possible small correction pause before further growth. | 06 February 2025
06 February 2025, EUR/USD
After a disastrous start to the week, the euro literally went up. Buyers managed not only to close the gap that opened on Monday but also climbed slightly higher. All this movement is likely due to the beginning of the formation of Wave 3 in an emerging upward impulse movement.
At the same time, the extremely rapid growth indicates that some kind of halt is brewing, designed to correct this movement. So it's quite possible that today, instead of continuing to grow, the price will either tread water or retreat somewhat lower.
Therefore, previously opened buy positions are recommended to be maximally secured by moving the stop loss closer to the current market values or partially closing them. It is not advisable to enter new trades in any direction at this time.
Investment idea: flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
