The EUR/USD is building a consolidation zone which seems to be part of a wave 4 (blue) correction. The bulls could regain control if price either breaks above the resistance trend lines or if price bounces at the 78.6% Fibonacci support.
The EUR/USD seems to be expanding the wave 4 (blue) with a WXY (green) correction. Price is likely in a wave 4 as long as price stays below the 50% Fibonacci retracement level of wave 4 vs 3. A bearish break could confirm wave 5 whereas a bullish bounce at the 78.6% Fib could confirm the end of the wave A (purple).