A sharp bounce above 1.1300 last week suggests that bulls are still in play for EURUSD and that big wave C-circled within ongoing triangle is unfolding. We see price currently trading around 1.1400 area so obviously leg up since March 10th is more complex and bigger. We see it as a zigzag that belongs to complex correction in blue wave C-circled that can stop at 1.1450-1.1500 area this month, where we would look for a bearish turn. Bearish cross and divergence on MACD also suggests that upside can be limited soon, but after a new high as we see minor triangle within uptrend of black wave C.
EURUSD, 4H
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