The EUR/USD is building a bullish pullback after a strong bearish momentum, which is probably a wave 3 (blue). The correction could therefore be a corrective wave 4 (blue) pattern as long as the price stays below the 50% Fibonacci level. A break above the 50% Fib makes a wave 4 less likely. A bearish bounce at the Fibs could see the price make a new low as part of wave 3 (purple).
The EUR/USD seems to have completed 5 waves (orange) within wave 5 (green) and the price is now building a potential ABC (green) correction within wave 4 (blue).
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.