Elliott waves analysis – EUR/USD. The price remains within the development of a corrective structure.

As expected, there were no significant changes during the past trading day. The price stayed in the same place without making any attempts to move. This low activity in the pair is likely to continue for some time. This could be due to the development of a correction within an extending wave 3. In this case, after a slight decline, we might see renewed buyer activity that will lead to a new local maximum and complete the development of wave 3. Therefore, it is recommended to continue observing the market without taking any active trading actions, waiting for the completion of the corrective decline.