The first hours of the new trading week were dominated by sellers. However, they were unable to achieve significant results. Buyers quickly adapted and took responsive action, as a result of which the price not only returned to the start of the decline but also managed to break the local price high.
However, the rise is unlikely to end here. The current situation indicates the possibility of further growth. This is presumably due to the formation of an extension in wave 3 of the emerging upward impulse, and moreover, the minimum target of the previously formed terminal diagonal triangle has yet to be reached.
Therefore, a continuation of the impulsive upward movement is expected in the near future, within the framework of the formation of wave 3.
The investment idea in this regard could have the following parameters: buy at 1.0530, stop loss at 1.0500, take profit at 1.0635.
Origin: FreshForex
