The EUR/USD has bounced at the support trend line (blue), which might complete a wave B (blue) correction. If price manages to stay above the support zone (blue), then price might eventually move up as part of a wave C (blue) towards the Fibonacci targets.
The EUR/USD bearish momentum could have completed a wave B (blue) if price manages to stay above the 100% Fibonacci level of wave 2 vs 1. A bullish bounce at the Fibonacci levels could confirm the development of a wave 2 (green) whereas a break above the resistance trend line (red) indicates a potential wave3 (green).
