EURUSD turned up from around 1.2850 recently where we called end of a five wave decline in wave 3, so current rally should be corrective. We know that corrections are slow and choppy which is clearly the case from the lows and back to former wave four. Therefore rally can be near completion, especially if we also consider that1.3000 psychological level can turn into a resistance. We expect a resumption of a downtrend soon, to 1.2800, maybe even 1.2740 in days ahead.
EURUSD 4h Elliott Wave Analysis
