The pair may grow.

On the 4-hour chart, the first wave of the higher level 1 of (3) develops, within which the wave iii of 1 forms. Now, the fifth wave of the lower level (v) of iii is developing, within which the wave iii of (v) has formed, and a local correction is developing as the fourth wave iv of (v). If the assumption is correct, the pair will grow to the levels of 1.2000–1.2200. In this scenario, critical stop loss level is 1.1692.

The EUR/USD pair grows due to a record USD fall and is currently trading near the level of 1.1890.

EUR is showing flat dynamics against USD during today's Asian session, trading near record highs updated the day before. The positions of USD came under pressure again yesterday after the publication of the minutes of the US Federal Reserve meeting.