On February 11, the EUR/USD pair gained about 5 basis points and made an unsuccessful attempt to break the 76.4% Fibonacci level. Thus, there are certain reasons to assume the beginning of building an internal correction wave 3 or C. If this is true, then the current values of the instrument's quotes will begin to increase, which can be maintained up to 10%. At the same time, wave 3 or C does not look complete, so in the future, I expect a further decline in quotes.

On February 10, the EUR/USD pair lost another 35 basis points and thus continues to build the expected downward wave 3 or C. The first wave inside 3 or C turns out to be very long. If waves 3 and 5 are proportional to it, then the entire wave 3 or C will also turn out to be very long. An unsuccessful attempt to break through the 76.4% Fibonacci level can lead to an internal correction of wave 3 or C.

On February 7, the EUR/USD pair lost another 35 basis points. Thus, the previous wave layout (which assumes the construction of a three-wave structure up) was canceled. The new wave layout assumes the construction of a 3 or even 5-wave downward section of the trend.

On February 6, the EUR/USD pair lost another 15 basis points and thus, continued the construction of the downward wave, which is still identified as b despite reaching a minimum of wave Y. However, an increase in instrument quotes is required today in order for the current wave marking to maintain its integrity.

On February 5, the EUR/USD pair lost another 45 basis points and thus continued building the expected wave b as part of a new upward trend. Due to yesterday's decline, this wave b has acquired a very deep form and even called into question the further construction of the ascending set of waves.