The EUR/USD pair is developing the “bullish” momentum formed yesterday and is testing 1.0700 for a breakout, renewing the highs of April 12 against positive macroeconomic statistics.

A fall is possible.

On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B formed, and a downward correction forms as the second wave 2 of (А) of B. Now, the wave c of 2 is developing, within which the third wave of the lower level (iii) of c is forming. If the assumption is correct, the EUR/USD pair will fall to the area of 1.0410–1.0212. In this scenario, critical stop loss level is 1.0885.

The EUR/USD pair shows moderate growth, developing the "bullish" momentum formed at the end of last week. The instrument is testing 1.0665 for a breakout, while trading participants await the emergence of new drivers. 

The EUR/USD pair is declining within the long-term downward channel: yesterday, the price reached its lower limit around 1.0600, after which it adjusted to 1.0681 (Murrey level [3/8]), where it is currently trading.