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In the long term, the EUR/USD market may be forming a large bullish correction (B), which is taking the shape of a standard A-B-C zigzag. As of now, only the first two parts of this pattern—the impulse wave A and the corrective wave B—have been fully completed.
On the most recent section of the chart, we can observe the development of the bullish wave C, which appears to be taking the form of an impulse. At present, the first four sub-waves of this impulse—(1)-(2)-(3)-(4)—have been completed, and the bullish final sub-wave (5) is in progress. There is a high probability that bulls within wave (5) may push the market toward the 1.189 level. At this mark, the size of the large impulse wave (5) will equal 61.8% of the Fibonacci extension of the previous impulse wave (3).
Therefore, if the upward movement continues, opening long positions from the current level could be considered, with the goal of taking profit at the 1.189 level. Once this level is reached, a trend reversal is expected, specifically the development of the final bearish impulse (C).
Trade recommendation: Buy at 1.151, take profit at 1.189.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
