The EUR/USD is building a triangle chart pattern and is awaiting a new breakout. The wave patterns suggest that a bullish breakout remains the most likely.
The EUR/USD downtrend is taking a major pause as price is showing continuous indecision. The support trend line (green) suggests that there is more bullish momentum at the momentum, which could be part of an ascending wedge chart pattern. These patterns usually tend to break up north.
Yesterday the EUR/USD seems to have expanded the wave 2 (blue) correction. A bullish break could confirm a potential wave 3 (blue) whereas a bearish break could expand the wave 2, as long as price stays above the bottom of wave 1 at 1.1593.