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EUR/USD. Euro's Uptrend Likely to Continue.

EUR/USD. Euro's Uptrend Likely to Continue. | 14 August 2024

14 August 2024, EUR/USD

EUR/USD. Euro's Uptrend Likely to Continue.

The previous trading day was very successful for the buyers. The price surged and approached the previously established maximum by the presumed wave 1. Here, the buyers might encounter some resistance, but any potential pullback is expected to be minor since the overall situation remains favorable for further upward movement.
It is presumed that wave 3 of the upward impulse is currently developing. The potential for movement within this wave formation remains quite significant, so trading should continue to focus on buying opportunities.
The possible price trajectory for the near future is schematically indicated on the chart provided above.
Investment Idea: Buy at 1.0990, Stop Loss at 1.0970, Take Profit at 1.1100

Bob Stan
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