Elliott waves analysis – EUR/USD. The price is preparing to rise slightly

The price continued to decline, but the activity decreased, and the movement began to resemble more of a slide under the influence of gravity, like some viscous mass. Presumably, somewhere very close, just below the current values, buyers are waiting for their moment, and with their active actions, they will push the price up.

This will conclude the development of the presumed wave i, and the formation of corrective wave ii will begin. In this case, upward movement is expected in the area of 50% from wave i.

A good entry level for buying would be the value of 1.0805 (this level is indicated on the chart).