EURUSD – Growth is expected in the fifth wave of the diagonal pattern

30.10.2023

The Euro tried to act according to the plan and started to grow within the development of the third wave of the initial diagonal triangle. The euro tried to move a little bit, but in the nearest time the buyers will probably continue their attempts. Eventually, it may lead to the price growth to the marked upper formation.

The potential of the movement is quite interesting and it is worth to participate in it. You can open buy trades at the current market values, setting a protective stop loss at the local minimum.

It should also be noted that in case of a positive outcome, the position should be closed, as this growth is expected to be the final one within the development of the diagonal pattern, and then a correctional decline is expected.

Recommendations: Buy 1.0565, SL 1.0535, TP 1.0700.