EURUSD – Probably the fifth ascending impulse wave is forming

09.01.2023

The assumption about further decrease of the pair turned out to be erroneous. Immediately after updating the local minimum, the price rapidly took off, instantly approaching the previously set highs.

Probably, such behavior was caused by the completed correction, which is wave iv in the ascending impulse. The observed growth is a part of wave v.

Thus, in the near future we expect continuation of the impulse upward movement. Conclusion of transactions for purchase in this situation looks very promising.

Recommendations: Buy 1.0690, SL 1.0665, TP 1.0850.