EUR possible start of the rise to 1.25+

The basic scenario is that EURUSD has finished wave 3 and 4, it is now is in the wave 5. There is possible impulse up in ((i)) of 5. There are three waves downward after. It looks like5 up-3 down confirmation of the trend change. BUT as usual there is a catch. The possible wave ((ii)) can be still in progress. We will look at this structure closer at 15 min timeframe chart. Nevertheless it is worth of close look at the EURUSD now, because it is very close to resolve the structure and form big move to the upside to 1.25+.
The alternative scenario is that EURUSD is still in wave ((c)) down of 4. I see that there is still possible to see more decline soon
There is a considerable RSX divergence. I consider that to be supporting the idea with decline.

Yorum:

It is possible wave (i) of ((iii)) of 5 is underway. The structure of this (i) looks very close to be finished. There is very important aspect that there is possible to label impulse only if the wave iv was a triangle. Due to this there must be wave v of (i) now. The shape of the possible wave v of (i) doesn’t look to me as a usual impulse. That gives only one option here – diagonal. It will be clear very soon what is going on here
The alternative scenario is Alt (a) of ((ii)) or (ii) of ((c)) of 4. It is possible to see decline from the current levels. There is also RSX divergence+ RSX is to the downside. That supports idea with move downside from the current levels.