EURUSD – The market decided to prolong the development of the correction

04.09.2023

All the efforts of the euro were overturned during one day. All the strenuous growth was played back and the price stopped at the price minimum with a clear intention to renew it. But it was decided to postpone this step for the new trading week.

The wave picture has also undergone certain corrections. Thus, the correction, which was represented as a triple triple triple, has all chances to become a flat.

By updating the local minimum, it will lead to the development of wave v impulse, which is part of wave c, wave a and b zigzags and everything is converging in this plan. But the market always has the last word. Whether it will agree with this scenario or offer another one will soon become clear.

In this situation, we can consider the possibility of making a sell trade or wait for a reversal and buy.

Recommendations: Sell 1.0760, SL 1.0785, TP 1.0670.