We can best see the latest price action as a small triangle which indicates a final dip closer to our expected target near 1.0525 to complete wave II and set the stage for a new impulsive rally in wave III. Ultimately, EUR/USD will break above the peak of wave I at 1.0996 for a rally towards at least 1.2100 and possibly higher.
However, for now, we will stay focused towards the downside and a break below minor support at 1.0667 for the expected dip towards 1.0525.
