On August 10, the EUR/USD pair lost about 50 pips and thus, it continued to build the assumed first wave as part of a new downward trend section. If this assumption is correct (and the wave structure of the ascending part of the trend looks fully completed), then the decline in quotes will continue in the near future with the first targets located near the level of 23.6% and 38.2% Fibonacci.

On August 7, the EUR/USD pair lost about 90 basis points, so there is more and more confidence that the wave 5, 5, C, B is complete. If this assumption is correct, then the decline in quotes will continue within the new downward set of waves with targets located near the Fibonacci levels of 23.6% and 38.2%.

On August 6, the EUR/USD pair gained about 20 pips, but still presumably completed the construction of a 5 in 5 in C in B. Today, August 7, a new departure of quotes from the reached highs began. The current wave markup looks completely complete.

On August 5, the EUR/USD pair gained about 60 pips and presumably completed the construction of wave 5 at 5 at C at B, since the quotes began to move away from the previously reached highs already today, and the current wave counting took a fully completed form.

On August 4, the EUR/USD pair gained about 40 pips and supposedly completed the construction of wave 4 in 5 in C to B, judging by the subsequent retreat of quotes from the reached minimums.