EURUSD – Up
The price decisively surged upward and set a new local maximum. This growth was not unexpected, but it turned out to be overly sharp. It was enough to reconsider the current markup and make some minor adjustments due to the newly emerged circumstances.
Possibly, the movement is still forming in the final wave of the ascending impulse. The shape, a terminal diagonal triangle, remains the same for now. The content has changed slightly. The movement becomes more expansive. In the future, a slight increase to the corrected upper forming is expected, after which the price will start to decline as part of the development of wave [4] of v.
It is assumed that it will complete its formation at the lower boundary or slightly below it. Then it will be possible to consider the option of buying in the final upward wave, intended to complete this entire bullish cycle.
It remains to wait again for confirmation or try to catch a corrective pullback when reaching the value of 1.1135.
Investment idea: Sell at 1.1135, stop loss at 1.1150, take profit at 1.1070.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
