The EUR/USD is staying in between support (green/blue) and resistance (red) levels, which is building a larger consolidation zone. The breakout above or below these S&R levels will determine the next direction and whether price will start an uptrend or downtrend.
The EUR/USD seems to have completed an ABC zigzag (blue) within wave 2 (purple). The wave 2 however could still be active if more ABC patterns occur. A break above resistance makes a wave 3 (purple) likely whereas a break below the 100% Fib invalidates wave 2.
Origin: Admiral Markets