The euro managed to gather strength and make a surge upwards to update the local high. However, it lacked the power to update the peak of the year. The price quickly reversed and plummeted. Now, this entire upward movement strongly resembles another diagonal triangle. It could turn out that a zigzag has formed, consisting of an initial diagonal triangle as Wave a and a terminal diagonal triangle as Wave b, but confirmation is required.
In any case, in the near term, the price is likely to decline. For now, this decline is regarded as Wave 2 in an upward impulsive movement. The current situation is favorable for entering sell trades.
Investment idea: SELL 1.0450, SL 1.0475, TP 1.0300.
Origin: FreshForex
