EURUSD – Price remains in corrective phase

08.01.2024

The price got into the zone of high turbulence, having managed to make an unsuccessful attempt of decrease and growth. Such behavior is typical for corrections. It is this phase that is developing at the moment. Presumably, the formation of wave ii in the incipient downward impulse is underway. In general, there is already a zigzag and this wave could be considered complete, however, it is thought that the correction will become more complicated, so we should not rush to any conclusions.

Today’s trading day is recommended to be devoted to observing the situation without taking any active trading actions. It seems that tomorrow something may become clearer.

Recommendations: flat.