Elliott waves analysis – EUR/USD. Bullish scenario remains viable.

Despite the failure of buyers to reverse the course of the EUR/USD pair, the market retains the potential for a bullish scenario. The fact that the price returned to the original level after the previous decline indicates that the initial diagonal triangle may still be intact. This provides optimism ahead of the new trading week, where the third wave of the emerging bullish impulse could commence.

If this occurs, the price may experience a significant rise, with the potential target set at 1.1000. Therefore, maintaining a cautious approach and waiting for confirmation of the bullish trend before entering buy positions seems prudent.