The EUR/USD pair reversed from the downward trend to the upward one. During the first half of October, it grew by more than 200 points, left the medium-term downward channel and forms an upward wave. Yesterday, the price renewed the local maximum, passing the level of 1.1060, and now reached the level of 1.1090.

The pair may grow.

On the 4-hour chart, a downward correction of the higher level developed as the wave 2, within which the fifth wave 5 of (C) of 2 formed. Now, the first wave of the lower level i of 1 of (1) of 3 is developing, within which the wave (iii) of i has formed, and the correction (iv) of i has ended. If the assumption is correct, the pair will grow to the levels of 1.1110–1.1250. In this scenario, critical stop loss level is 1.0991.

On Friday, the EUR/USD pair actively grew, renewing the highs of September 20. Nevertheless, the instrument failed to consolidate at the new highs, and by the end of the daily session, USD significantly restored. EUR is supported by optimistic signals about Brexit and the process of a new round of US-China negotiations.

The EUR/USD pair is slightly strengthening. An important resistance level is in the area of ​​1.1021–1.1035. Its breakout can be considered a trend change on a 4-hour chart.