Contrary to expectations, the past trading day turned out to be quite successful for buyers. Buyers did not delay what they could have done at the beginning of the trading week, instead, they became active early and strengthened the euro’s position.
The price rose, managing to break out of the bounds of the presumed ending diagonal triangle, and now an attempt is being made to consolidate these gains. It is likely that this consolidation will succeed, meaning the price will eventually rise even higher.
This movement is driven by the formation of the third wave of the upward impulse. If this assumption is correct, two more waves of this model are yet to come, but the third wave is still far from completion.
Therefore, entering into buy positions appears to be a promising trading decision.
Investment idea: Buy 1.0375, Stop Loss 1.0350, Take Profit 1.0630.
Origin: FreshForex
