Elliott waves analysis – The Euro will try to grow.

The pair’s growth has stalled. The price not only began to decline but also managed to form something very similar to an impulse. This can be interpreted as a wave A correction taking the form of a zigzag. Further growth is expected as part of the development of wave B. With a high probability, there won’t be an update of the current local maximum established by wave III. The price will increase to the 61.8% level of wave A, after which it will start forming wave C.

In this situation, it is possible to consider short-term purchases at current market values with a target at the level of 1.0940.