EURUSD Apr.12
EURUSD expanded the correction on Monday, as I wrote on 6.Apr, it broke the peak of previous 3-wave formation, so it’s going to complete soon one of the following patterns: 3-3-3 or 3-3-5.
To my mind, the second variant (3-3-5) is more likely, as price still hasn’t reached the min Fibo line of at least wave 5. It’s shown at 4H chart. Also, the price action has already confirmed wave 3 of the current upside move (as shown at 15min chart).
In short-term we would possibly see another wave of retracement wave 4, and then try to follow the 5th wave to the upside with the initial target 1.38
2 charts are attached:
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