The EUR/USD currency pair continues correctional descending movement; the price is forming the third wave of this correction. I should note that reaching the level of 1.3330 will be enough for the market, but so far the structure of the movement indicates that the price may reach only the level of 1.3340. If the pair forms a five-wave correction, the price may fall down and each the level of 1.3240. However, it doesn’t matter if this correction is three-wave or a five-wave one – an overall technical picture won’t change. Later, in my opinion, the price may start growing up towards the target at 1.3980, at least. I think today the pair may continue moving downwards to reach a new minimum and test the channel’s lower border. After that – to test the level of 1.3470 from below and then start another descending structure towards the level of 1.3240. I would pay more attention to the levels of 1.3340 and 1.3240: if the pair forms a pivot point near any of them, the correction may be considered completed.
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