The EUR/USD is in a large consolidation zone and the new direction will depend whether price breaks above resistance (red) or below support (green). A bullish breakout would confirm the expected wave 5 pattern.
The EUR/USD is building a channel which could indicate a larger WXY (blue) correction within wave 2 (purple) if price breaks below support (blue). A bullish breakout above resistance (orange/red) could start a potential wave 3 (blue).
Origin: Admiral Markets