Elliott waves analysis – EUR/USD. The sideways movement has taken on clear boundaries.

The developing corrective sideways trend is beginning to take on defined boundaries. It is likely that we are dealing with not a flat but a double or triple zigzag. In this case, the price may move within the indicated boundaries for quite some time, periodically tempting impatient traders into hasty decisions by sharply breaking beyond these limits and quickly returning back.

Therefore, it is necessary to wait for a confident breakout and the price to establish itself beyond the evolving correction structure before seeking opportunities to enter trades. In our case, a decline is expected due to the development of the third wave of the descending impulse.