FX.co ★ EUR/USD wave analysis. Weekly review.

During the previous week, the EUR/USD pair tried to refresh the downward trend against the euro. At the same time, having broken through the lower line of already beginning to show upward channel, the price stopped under it. By this, the existing wave picture demonstrates some market uncertainty regarding the outlook of further situation development. In the result, the euro has chances to continue growth and abc wave package is able to transform into a five-wave structure of new future segment of ascendant trend. At the same time, the scenario shown in the figure has the same chances and it allows the currency pair to continue the drop started last week in the direction of the level of 1.2170, where there is parity of wave a and future assumed wave c.