Growth is possible.

On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B formed, a correction ended as the second wave 2 of (А) of B, and the third wave 3 of (A) of B develops. Now, the wave (iii) of iii is forming. If the assumption is correct, the EUR/USD pair will grow to the area of 1.1230–1.1470. In this scenario, critical stop loss level is 1.0885.

Main scenario

Long positions will become relevant above the level of 1.0885 with the targets at 1.1230–1.1470. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 1.0885 will let the asset go down to the area of 1.0663–1.0414.