phi35
Long

Seems to be the first leg up. $EURUSD

FX_IDC:EURUSD   Euro Fx/U.S. Dollar
It seems the correction is over and the first leg up is is development. With some fibonacci analysis I calculated some confluence zones (blue horizontal lines and a blue zone) and made a forecast, how the pair could develop.

It wouldn't be wrong to be aware, that the correction could continue by making another formation. For now, #bullish
Comment: By the way, I would wait for the massive correction down to (2) after it reached (1) before opening a long position.
Comment: It seems wave (3) of 1 is an extension. Wave 5 will be therefore a very brief move.
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