Elliott waves analysis – EUR/USD. Impulsive growth expected in the fifth wave.

The situation remains relatively stable. Activity is subdued, and the price is trading within a defined range, indicating a corrective movement. It’s possible that wave 4 is developing within an elongated wave 3. If this is the case, we can expect a resumption of price growth in the near future.

Moreover, the movement in wave 5 could be the longest, as waves 1 and 3 of 3 are approximately equal. In this scenario, there is a good opportunity to enter promising buy positions at the current market levels.