If the EUR/USD completed the wave W (magenta) then a retracement for wave X (magenta) before a new rise for Wave Y (magenta) seems like the most probable path at the moment.
Yesterday's price action is most likely a bullish momentum and therefore label
...The EUR/USD did bounce at the support of wave X (green) yesterday and coudl be heading towards the Fibonacci targets of the wave Y's (purple and green).
Yesterday's price action is most likely a bullish momentum and therefore labeled as a wave A (orang
...The EUR/USD bullish move up fell short of the main Fibonacci targets (61.8% as the first one), which could either be a retracement for a wave X (orange) or a change in wave count (if price breaks below wave X (green).
Price is now at the bottom of the
...The EUR/USD could be expanding the wave Y (blue) correction with a wave WXY (magenta).
The wave X (green) seems to be completed at the 61.8% Fibonacci retracement and price might be able to breakout towards the wave Y (green) Fibonacci targets.
The EUR/USD is most likely expanding its correction of wave Y (blue) with a wave WXY (magenta).
Price is at the bottom of the trend channel (blue), which could be part of the wave X (orange correction).
The GBP/USD seems set to correct lowe
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