As we said in yesterday's article, it's not uncommon to see the b-wave of an expanded flat correction reach the ideal target if the impulsive wave misses this target in the first place and that's exactly what we have seen. EUR/USD continued to trade higher to a high of 1.0927 or just below the ideal target of 1.0933, which is more than enough to fulfil the requirement in wave b. So, we should now see wave c take over for a decline towards the support area between 1.0437 - 1.0500 in the coming days to complete wave 4.
Short-term, we expect minor resistance near 1.0888 to cap the upside for a break below minor support at 1.0867 as the "GO" for the next part of the decline in wave c towards the 1.0437 - 1.0500 target area.
