The basic scenario is that EURUSD has finished wave 3 and 4, it is now is in the wave 5. There is possible impulse up in ((i)) of 5. There are three waves downward after. It looks like5 up-3 down confirmation of the trend change. BUT as usual there is a catch. The possible wave ((ii)) can be still in progress. We will look at this structure closer at 15 min timeframe chart. Nevertheless it is worth of close look at the EURUSD now, because it is very close to resolve the structure and form big move to the upside to 1.25+.
The alternative scenario is that EURUSD is still in wave ((c)) down of 4. I see that there is still possible to see more decline soon
There is a considerable RSX divergence. I consider that to be supporting the idea with decline.
The alternative scenario is that EURUSD is still in wave ((c)) down of 4. I see that there is still possible to see more decline soon
There is a considerable RSX divergence. I consider that to be supporting the idea with decline.
The alternative scenario is Alt (a) of ((ii)) or (ii) of ((c)) of 4. It is possible to see decline from the current levels. There is also RSX divergence+ RSX is to the downside. That supports idea with move downside from the current levels.