EURUSD was moving higher in March and reached levels around 1.1400 at the end of the month which means that recent push up is part of a complex correction from 1.0518. We see a structure with seven legs, thus a double zigzag that represents wave C-circled as part of a big ongoing triangle that is now in play for more than 12 months. However, despite uncompleted big wave IV we think that upside will be limited and that new bearish turn could occur in April, probably down into wave D-circled from current 1.1400-1.1500 resistance zone highlighted on daily chart.
EURUSD, Daily
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