Elliott waves analysis – EUR/USD. The price remains within corrective boundaries.

The situation is unfolding as expected. The price has paused and is not making any sharp movements. As a result, we observe a decrease in volatility and a gradual transition to a sideways trend. Presumably, this signifies the continuation of the development of corrective wave ii in the emerging downward movement.

In the near future, calm trading within a narrow price range is expected, followed by an attempt at an upward movement aimed at completing the formation of the mentioned corrective wave. Afterward, the development of the next descending impulsive wave will commence.

Until that moment, it is recommended to stay out of the market and observe the situation from the sidelines.