EURUSD is in a five-wave intra-day rally on the 15min chart. This impulsive move up suggests a minimum three-wave recovery, with red wave a leading the way. At the moment price can be unfolding sub-wave (v) of a, which can look for resistance at the 1.128/1.13 region, and then turn into a bigger red wave b correction.
Both alternate counts suggest a flat to be in progress: ALT 1 suggests a potential top for a sub-wave (v) to be in place, and an a-b-c move to be underway, towards the 1.123 level, before more upside can follow.
ALT 2 suggests a flat to be in play for a sub-wave (iv), and a retest of the 1.123 level, before we may see sub-wave (v) unfold to the upside.
Both alternate counts suggest a flat to be in progress: ALT 1 suggests a potential top for a sub-wave (v) to be in place, and an a-b-c move to be underway, towards the 1.123 level, before more upside can follow.
ALT 2 suggests a flat to be in play for a sub-wave (iv), and a retest of the 1.123 level, before we may see sub-wave (v) unfold to the upside.