EURUSD – Up
The market is highly volatile. The price changes direction every day, making significant jumps in either direction. Currently, we are witnessing a powerful downturn, even though the day before, the price was rising confidently. It’s difficult to say which of the perpetually conflicting sides will emerge victorious from this situation. However, the previously considered bullish scenario may still have chances of realization.
If a correction in wave iv takes a more complex form, perhaps a triple zigzag, then we can expect further downward movement with a new local minimum. Afterward, there may be an attempt to rise and complete the formation of the diagonal triangle.
Trading is not recommended until the situation becomes clearer. The price may still make unpredictable jumps, so it’s best to stay out of the market for now and observe from the sidelines.
Investment idea: Flat.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
