EURUSD – Another chance for the euro

19.01.2022

The last trading day did not change anything significantly. Quotes quickly went down. But this behavior still saves a considerable chance for bulls to succeed. It is possible that this movement is the development of an expanding triangle, that is, a wave [1] of an emerging impulse.

The subsequent sharp decline is a corrective wave [2]. So, from the current levels, we can observe the beginning in the development of the wave [3], which in the wave can turn out to be long. But to open trading orders, it is recommended to expect confirmation in the form of a new high set by the wave [1].

Recommendations: Buy 1.1485, SL 1.1460, TP 1.1700.