The EUR/USD could have completed the wave B (blue) and might be ready for a bullish wave C (blue) if price manages to break above resistance (red) with strong bullish candles. The overall picture remains corrective and choppy but at the moment a larger bullish correction towards Fibonacci retracement levels within waves Y (purple/pink) of wave B (light purple) seems the most probable.
The EUR/USD has either made a bullish ABC or could be building a 123 wavepattern. A bullish breakout favours the 123 pattern whereas a bearish break makes the ABC variation more likely.
