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EUR/USD. Impulsive Growth is Delayed.

EUR/USD. Impulsive Growth is Delayed. | 28 February 2024

28 February 2024, EUR/USD

EUR/USD. Impulsive Growth is Delayed.

It seems that the development of a full-fledged zigzag as wave ii is inevitable after all. And that's correct. A beautifully formed model in the form of an initial diagonal triangle should also be beautifully corrected. Probably, that's why the price is not rushing to continue rising. At current price levels, there is bearish force restraining the price from further growth.
Ultimately, this pressure will lead to a sharp decline, as schematically indicated on the chart. Then, it will be possible to attempt to rise again and form wave iii of the upward impulsive movement.
In connection with this, it is advisable to close previously opened buy positions with minimal losses, and it is not recommended to open other positions at the moment.
Investment idea: Flat.
Bob Stan
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