Elliott waves analysis – EUR/USD: Ascending Impulse Completed, Correction Begins

The price has decided not to continue its upward movement, opting instead for a correction. To achieve this, wave 5 had to be shorter than wave 3, which has occurred. Additionally, wave 5 appears to be forming an ending diagonal triangle, indicating a significant downward price movement in the near future.

A correction is expected to form, and its specific nature will become clear over time. Meanwhile, consider the opportunity to enter sell positions targeting the local minimum established by wave 4.