The EUR/USD is moving sideways and showing choppy price action in recent days. The EUR/USD is respecting the 61.8% Fibonacci level of potential wave 4 (blue), which remains a key decision zone.
The EUR/USD bullish break back above the key level of 1.13 is indicating that the end of the downtrend is likely. A new bearish move is expected once price completes wave W (purple) but the price action should be corrective and form an ABC correction.
The EUR/USD seems to be building a final wave 5 (green) within wave C (blue). One more push is possible but runs the risk of hitting and bouncing at the Fibonacci targets.