Elliott waves analysis – EUR/USD. The price remains within the developing correction.

The previous trading day was influenced by selling pressure. However, there was no significant aggression, and the price calmly slid down within the correctional structure. Today’s trading day may be similar, with the only difference being that the price could move upward.

All of this aligns well with the earlier assumption of aimless wandering of the price within a certain price range. Trading here is extremely risky, and there is little sense in it. It is necessary to wait for the completion of the correction, after which the development of wave iii of the descending impulse is expected.

Entry points for sell orders can be considered when the price breaks and consolidates below the dashed line marked at the level of 1.0875. Until that moment, it is recommended to stay out of the market and observe the developments from the sidelines.