On February 21, the EUR / USD pair gained about 60 basis points and began to move away from earlier lows after an unsuccessful attempt to break through the 127.2% Fibonacci level. So I guess the construction of wave 3 or C is already completed. If this is true, then the increase in quotes of the instrument will continue within the framework of either correctional wave 4 or a new upward set of waves.

On February 20, the EUR/USD pair lost 20 basis points and made an unsuccessful attempt to break the 127.2% Fibonacci level. Thus, it is still unclear whether the construction of the proposed wave 3 or C has been completed, or whether it will become even more complicated and continue its construction.

On February 19, the EUR/USD pair gained about 15 basis points, however, it did not affect the current wave markup in any way. Thus, the pair remains within the framework of building the expected downward wave 3 or C. At the moment, the instrument has made several unsuccessful attempts to break the 127.2% Fibonacci level, so this may mean that the markets are not ready for further sales of the European currency.

On February 18, the EUR / USD pair lost about 45 basis points and continues to build the proposed wave 3 or C, and inside of which, no correctional wave is visible. Quotes of the pair declined the day before to the level of 127.2% Fibonacci.

On February 17, the EUR/USD pair gained only a few base points, which did not affect the current wave markup, which assumes the construction of wave 3 or C of the downward trend. Thus, neither the internal correction wave in the composition of 3 or C nor the correction wave 4 begins their construction due to too weak demand for the euro.