EURUSD: 1.1205 Likely to Complete Primary Correction

EURUSD seems to be forming a bullish zigzag ②, consisting of intermediate sub-waves (A)-(B)-(C).

Waves (А) and (В) are completed. Wave (С) however is currently under construction. C waves usually complete the corrective move in a 5-wave impulse.

Wave (A) is also a bullish 5-wave impulse, whereas wave (B) is a bearish zigzag, consisting of sub-waves A-B-C.

We could expect a minor flat correction to form wave 4 and continue higher with the expected minor 5 near 1.1205.

At that level, the primary correction wave ② will reach 61.8% of the leading diagonal wave ①.