Elliott waves analysis – EUR/USD. Buyers are preparing an impulse with elongation.

The attempt to start growing ended in failure, as soon as the price updated the local maximum, sales resumed, which brought the rate back to the starting point of this insignificant growth. However, it is unlikely that buyers will calm down. The situation obliges to start an impulsive movement, so there is a high probability that in the near future the price will start to grow and form not just an impulse, but also try to make the third wave elongated. Perhaps this explains yesterday’s price jumps, as waves one and two were formed inside the third wave.

Thus, the current situation is very favorable for concluding buy transactions. You can open positions already at current market values.