Price action this day is predictable, I like balanced moves, which can be foreseen
On 15 min chart we can see price has finished it's 5-wave bearish movement (it could be seen on higher TF as the 1st wave of the correction, which I tried to describe above).
If the pattern is proved (it means that the price won't go lower than 119.76), it's obvious the time has come for a retrace. It's likely a 3-wave pattern will be formed. On the attached chart I put price marks of Fibo retracement levels, which can be mentioned as target-points.
As the upcoming correction is related with the 1st wave of the major move, the correction can be significant.
PS. From the other side, we should take in mind strong bearish momentum which appeared on EU this day. It's hard for me to analyze today's price action on EU, so I left it till the situation is clear.
*By the way, the possibility of the upcoming correction is supported be Stochs.
