EURUSD – Expected Growth in a Forming Zigzag

08.04.2024

The price continues to move within the assumed correction taking the form of a simple zigzag. Following a strong increase, there was an adequate response that led to a deep corrective pullback. However, buyers responded again and managed to rectify the situation. Presumably, during this activity, wave b of 2 was formed.

Subsequently, we can expect impulsive growth, aimed to form wave c of 2, thereby completing the formation of the corrective model. The potential of this upward movement allows considering participation in it, so it is recommended to consider the possibility of entering a buy trade on the breakout of the 1.0840 level.

Recommendation: Buy 1.0840, SL 1.0820, TP 1.0920.