The EUR/USD is building a bullish pullback after a strong bearish momentum, which is probably a wave 3 (blue). The correction could therefore be a corrective wave 4 (blue) pattern as long as the price stays below the 50% Fibonacci level. A break above the 50% Fib makes a wave 4 less likely. A bearish bounce at the Fibs could see the price make a new low as part of wave 3 (purple).
The EUR/USD seems to have completed 5 waves (orange) within wave 5 (green) and the price is now building a potential ABC (green) correction within wave 4 (blue).
