EURUSD is slow but still can see a recovery from here if we consider that decline was in three waves and that Fib. cluster held very well. However, there is still a trendline resistance that can prevent the move higher so it's important to see a breakout here before we may start looking for a turning point. If I see 1.1391 by an impulse then I may become very interested in building longs.
EURUSD unfolded five minor legs within higher degree wave a/1 from March lows and found a top at the 1.144 level. Sharp drop which followed can be seen as a three-wave pullback a)-b)-c) with possible support seen at 78.6% retracement level. A rally in impulsive fashion from here, and break above the 1.144 level would confirm a completed wave b/ii correction, and more upside into wave c/iii.
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