EURUSD – Time for the development of the final wave of the final diagonal

08.05.2023

Directional movement continues to be a problem. The price continues to trade in a narrow price range with a slight upward bias. So far this movement is considered as wave v of the ascending impulse, taking the form of a final diagonal triangle.

In this model, probably soon, the development of the final v wave will be completed, which means that we are expecting an increase to the upper formative.

Thus, conclusion of buy deals at the current prices looks a rather promising trading decision.

Recommendations: Buy 1.1030, SL 1.1010, TP 1.1200.