EUR/USD. A decline is expected in the fifth wave of the downward impulse.
EUR/USD. A decline is expected in the fifth wave of the downward impulse. | 19 November 2024
19 November 2024, EUR/USD
The beginning of the trading week turned out to be boring, sluggish, and uninteresting for trading. Volatility is reduced, which does not allow you to benefit from trading in such a market. It is understandable, because the current situation is very similar to the ongoing development of a correction, which is part of wave 4 of the supposed downward impulse.
In the near future, a slight increase is expected, which will quickly be interrupted, and the price will go down, drawing the final wave 5 of the same bearish impulse, which is part of wave c.
Thus, in this situation, it is necessary to wait for an opportunity to enter sell transactions. It is worth considering closing these positions at the update of the current price minimum, as the subsequent reaction from buyers may lead to the beginning of a prolonged impulse movement.
Investment idea: sell 1.0570, stop loss 1.0590, take profit 1.0450.
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