EURUSD came lower as expected, broke into the fifth wave we talked about last few weeks, and it finally moved into important support levels at 1.02 area. Notice that we are actually tracking the final leg within this downtrend from 2024 high, so ideally its wave C of a higher degree A-B-C correction, meaning that pair can stabilize still some time this month, ideally after the completion of an ending diagonal around important and golden 61,8% Fibonacci retracement. Even RSI is showing a divergence. A bounce in impulse back above 1.0435 will suggest that low is forming.
Trade active
As expected, EURUSD is bouncing from the strong support, so correction can be completed and bulls back in the game, thus watch out for more upside.Note
EURUSD is nicely and impulsively recovering away from the strong support, so it's probably on the way back to 2023 highs within a projected five-wave bullish cycle, just be aware of wave 4 pullback in the meantime.
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