EURUSD – Up
The scenario with a decline is not yet canceled, but it increasingly looks unattainable, at least in the form we have been considering. Currently, the alternative scenario of events is becoming more interesting. It is possible that the choppy decline we have observed throughout January is not the initial diagonal triangle but a correction in the form of a double zigzag.
In that case, the price will strive to rise in the near future. Currently, there is a probing of the dollar’s weak spot. The movement in a weak upward direction threatens to explode with sharp buying activity at any moment.
In this situation, it is possible to consider starting buying at current market values with quite a good movement potential.
Investment idea: Buy at 1.0800, stop loss at 1.0775, take profit at 1.1000.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.