Elliott waves analysis – EUR/USD. The price is poised to rise.

The market is building momentum for a sharp impulsive move. Yesterday’s trading session was dominated by bears, causing a decline and touching the lower boundary of the projected initial diagonal triangle.

From here, a bounce-back and rally towards the upper boundary of this model is anticipated. There is sufficient potential for initiating buys at current market prices. Additionally, buyers may not stop at the indicated target, continuing to ascend rapidly, driven by the development of the third wave of the emerging upward impulse.