The latest news from Russia-Ukraine negotiations has some positive impact on stocks that are still climbing and searching for resistance. It was the Russian Defence Ministry that announced that they will scale down military activity around Kyiv and Chernihiv.
EURUSD is in new recovery mode in the 4-hour chart, but notice that the wave structure still looks corrective, so we are still tracking a bigger A-B-C corrective rally that can retest 1.12xx resistance area before we will potentially see another decline. Keep in mind that bears may step in only if turns back sharply beneath 1.0940 region. On the other hand, in case if goes impulsively towards 1.13 area, then it may have already found the support.
EUR/USD Elliott Wave analysis
