Elliott waves analysis – EUR/USD. The euro quickly managed to get back into the game.

The euro is swiftly recovering from the pressure exerted by the dollar. This maneuver aligns perfectly with the expected trajectory of movement. A well-identified zigzag has formed as the presumed wave 2, and the current observed growth is likely part of a longer-lasting third impulse wave.

Ahead lies a significant test in the form of local extremes, which have previously elicited reactions where the price failed to surpass them and fell back. Perhaps this time things will go more smoothly, and the price will easily surpass these levels.

In light of this, it’s worth considering the possibility of entering buy positions on a breakout above the maximum of wave 1.