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

Hello traders, The correction on the EUR/USD pair has been slightly prolonged in time. However, it is still suitable for the continuation of the downward wave. There are two possible scenarios: a pullback into the fourth wave followed by pushing the fifth wave in (c) in (2), elongating it to create a breakout in (a) in (2). This would allow us to consider the correction in (c) in (2) completed. On the other hand, as long as the pullback does not exceed the second higher wave, we could potentially have a 1-2 in the third wave of the fifth in (c) in (2), ensuring a breakout in (a) in (2). Unless, of course, the pair decides to start the new week by climbing further, which would be excessive for a 1-2 in the third of the fifth wave, posing a challenge for the fourth wave in this scenario.