Based on latest move with slow price action above 1.1000 level, we suspect that wave 4 can reach higher levels so I adjusted the wave count and now looking for a simple zigzag in black wave 4 that can retest 1.1050 resistance or even touch 1.1080 level before we see new leg down which will be wave 5. On this count we can see invalidation level at 1.1105, but even if overlap occurs we will continue to look down after a completed corrective bounce, which will then be labeled as red wave B) rather than wave 4. So it's not a question "In which direction new impulse will occur?", but rather " From where new sell-off will come in?".
EURUSD, 1H
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