EUR is showing insignificant growth against USD today, recovering after falling the day before. At the same time, EUR managed to renew its local highs since January 15 on Wednesday, continuing to receive support from a rather weak position of USD in the market.

The EUR/USD pair is correcting upwards, trading around the level of 1.2143.

The pair may fall.

On the daily chart, the first wave of the higher level 1 of (3) developed, within which the fifth wave v of 1 formed. Now, a downward correction is developing as the second wave 2 of (3), within which the wave a of 2 is forming. If the assumption is correct, the pair will fall to the levels of 1.1976–1.1890. In this scenario, critical stop loss level is 1.2219.

This week, the EUR/USD pair declines, trading now around 1.2130.

The EUR/USD pair showed ambiguous dynamics today during the Asian trading session, as well as at the opening of the European session.