The EUR/USD bounced at the bottom of the downtrend channel and is making a bullish correction, which is marked as wave 4 (brown). The resistance zone (red), trend line (orange) and Fibonacci levels are potential turning spots for the conclusion of wave 4.
The EUR/USD is in a neat downtrend channel marked by the orange and blue trend lines. Divergence is present (purple) but one more wave 4 (brown) bullish correction and wave 5 bearish impulse is expected.