Elliott waves analysis – EUR/USD. Start of the third impulse wave development.

After failing to return within the bounds of the anticipated initial diagonal triangle, the euro has begun showing signs of an upturn. This suggests that the third wave of the emerging bullish impulse is starting to form. If this trend continues, we can expect a significant price appreciation.

The triangle structure appears to be completed, as evidenced by the inability of the price to maintain stability within the range. This supports the view that the initial diagonal triangle has reached maturity, paving the way for a strong bullish move.

Taking advantage of this situation, traders can consider entering buy positions at the current market level of 1.0540, with a tight stop loss at 1.0510, aiming for a target profit of 1.1000.