The EUR/USD bullish break back above the key level of 1.13 is indicating that the end of the downtrend is likely. A new bearish move is expected once price completes wave W (purple) but the price action should be corrective and form an ABC correction.
The EUR/USD seems to be building a final wave 5 (green) within wave C (blue). One more push is possible but runs the risk of hitting and bouncing at the Fibonacci targets.
