EURUSD seems to have finished its three-wave A-B-C zig-zag decline. Pay attention to the fact that the 61.8% Fibonacci level reacted as a support once again. In our previous analysis we stated that EURUSD needs one more pull-back lower to the 1.3760 area, before the resumption of the uptrend. As you can see on the chart below, the pair bounced up from 1.3768. Now we expect that corrective channel to be broken to the upside. Prices around 1.40 should be reached, before we evaluate the situation again. You can find our bigger picture scenario in our analysis from April 16th.
