EUR/USD. The price will try to grow. | 01 October 2024
01 October 2024, EUR/USD
The price continued to stall at a certain price level, darting back and forth as if trying to escape from a trap. It doesn't matter in which direction, as long as it gets away from the current values as far as possible. But nothing works, every activity finds a response, and everything ultimately returns to the starting point.
The entire situation is considered as a wave 5 forming, which is a final diagonal triangle. The specified model is about to finish soon, the final upward wave is missing. The expected movement is indicated on the provided graph in red.
After completing this model, the price will start moving down, striving to reach the minimum set by the supposed wave 4.
In this situation, you can try to buy carefully at current market values with a target on the upper limit of the model.
Investment idea: buy 1.1140, stop loss 1.1115, take profit 1.1240.
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