The EURUSD has hardly moved since yesterday and therefore there is no change to the near term structure. “Both legs of the down-up sequence from 1.5904 are not clear impulses. This makes it likely that a larger correction is underway; either a triangle or a flat.
It is possible that waves A through D of a triangle are complete and that wave E is underway towards 1.5600 or just below. E waves of triangles are usually sharp and have a tendency to penetrate the lower triangle line. The triangle line crosses through 1.5590 today and 1.5620 tomorrow.
