Elliott waves analysis – EUR/USD. The euro has demonstrated the seriousness of its intentions.

Expectations for upward movement remain intact. In the last trading day of the previous week, the price experienced turbulence. Everything seemed to be going awry for the euro. The exchange rate sharply declined, undoing all the previous efforts. However, buyers managed to skillfully navigate this challenging situation, bringing the price back to previously reached local highs and setting a solid foundation for further upward movement.

Therefore, a continuation of the price increase is expected in the near future. It is recommended to open long positions on the breakout of the current local high.

The movement is anticipated to be impulsive, representing the third wave in the emerging bullish phase.