EUR/USD is struggling to hold its head above water but the ongoing correction from 1.0887 will soon drag it lower towards the 1.0437 - 1.0500 target area. We did say that we expected this correction to be complex and shallow in alternation with wave 2 which was deep and simple in its structure.
It's possible that the ongoing sub-wave b of 4 will be able to reach resistance at 1.0933 which was our ideal target for wave 3 but it failed to reach this target. Then, we often see the sub-wave b of the following correction reach the expected target. However it's not a requirement, so don't take it for granted that we reach 1.0933 before the following decline towards the 1.0437 - 1.0500 target area.
