The euro has managed to utilize the current situation effectively, preventing the exchange rate from dropping below the specified level. Instead, it has successfully attacked the positions of the US dollar, advancing towards the local maximum established by the presumed wave 1.
It seems that wave 3 of the upward impulse has begun, potentially indicating an extended internal structure. In this case, we are likely to see the continuation of the upward impulsive movement, approximately as schematically shown in the provided chart.
Therefore, it is advisable to secure previously opened positions by moving the stop loss closer to the current price level. New trades can be considered upon breaking the local maximum.
Investment Idea:Buy at 1.0740, Stop Loss: 1.0715,Take Profit: 1.0850.
Origin: FreshForex
