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EUR/USD. The price remains within the forming correction.

EUR/USD. The price remains within the forming correction. | 05 November 2024

05 November 2024, EUR/USD

During the past trading day, no significant changes occurred in the wave pattern of the analyzed trading pair. The price slightly updated the local high and began to slide back to the beginning of the formed gap. After dropping a little further, the price is likely to rise again, but there will be no particular enthusiasm.
The corrective upward movement will continue its development. However, the upcoming US presidential election and its results may significantly impact volatility. Therefore, by the end of the current trading day, all transactions should either be fully closed or secured with a protective stop loss, or it is recommended to avoid trading altogether for the next two days.
Investment idea: flat.
Bob Stan
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