Has wave 5 of EUR/USD finished?
Today's NFP caused a significant drop in the price, but it did not break below last week's low. This means we cannot yet conclude that wave 5 has ended.
The price is also hovering in the same area as it was two weeks ago (highlighted in blue), which might suggest a flat correction for wave 4. This is a common in wave 4.
In summary: it's possible that wave 5 hasn't even started yet.
Therefore, it’s still a good opportunity to take a buy position if the conditions are favorable.
For a safer approach, wait until wave 5 appears to have ended before taking a sell position.
Alternatively, if the price breaks below the previous low, which we assume is the end of wave 4, we can start looking for sell positions.
Good luck!
The price is also hovering in the same area as it was two weeks ago (highlighted in blue), which might suggest a flat correction for wave 4. This is a common in wave 4.
In summary: it's possible that wave 5 hasn't even started yet.
Therefore, it’s still a good opportunity to take a buy position if the conditions are favorable.
For a safer approach, wait until wave 5 appears to have ended before taking a sell position.
Alternatively, if the price breaks below the previous low, which we assume is the end of wave 4, we can start looking for sell positions.
Good luck!
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