The EUR/USD continued yesterday with the strong bullish momentum. There is some small space left until price hits a larger resistance trend line (red), which is a key decision zone for bounce or breakout.
The EUR/USD is probably building a bullish ABC zigzag pattern (purple) within a larger wave W (pink) correction.
The EUR/USD bullish momentum seems to have completed a wave 3 (blue). A shallow and choppy pullback would confirm the potential wave 4 (blue) correction and price could bounce at the Fibonacci levels around 1.15-1.1550 to build a new high within wave 5. A break below the 50% Fib makes a wave 4 less likely.
