The pair EUR/USD is still likely to fall. Estimated pivot point is at a level of 1.1618.
Main scenario: short positions will be relevant from corrections below the level of 1.1618 with a target of 1.1370 – 1.1300.
Alternative scenario: breakout and consolidation above the level of 1.1618 will allow the pair to continue the rise up to the levels of 1.1813 – 1.1940.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues developing on the daily time frame with the wave A of (2) formed within. An upward correction B of (2), supposedly, is developing on the H4 time frame, with the wave b of B forming inside. Apparently,a descending impetus is developing in the form of the wave (c) of b on the H1 frame. If the presumption is correct, the pair may continue falling to 1.1370 – 1.1300. The level 1.1618 is critical in this scenario.
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Price chart of EURUSD in real time mode
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