FX.co ★ mdouglas | Wave Wisdom: Mastering the Art of Wave Marking in Forex!

With EUR/USD, just like with the dollar index, we are already approaching the cancellation of the scenario for continuation of wave (c) in (2) in (C). The pair is approaching the 1.1650 level, and I think if they manage to break this resistance level, then all downside scenarios will be exhausted and we will have to look further strictly to the upside. For now I still think we are in a correction in the second wave in (c) in (2) in (C), and we still need to update the high one more time to complete the last wave of this correction in the second in (c) in (2) in (C). Also at the moment, with a small violation, it is possible to stretch an impulse in the first wave of the rise; if they manage to update the local low, we will start a decline, presumably into the third in (c) in (2) in (C), but it is possible this will be a correction in the second of the rise. It will be clear after we complete the move to the downside.