Wave Analysis for June 16, 2026 EURUSD
For the currency pair under review, it appears that the previously anticipated bearish corrective structure in the form of a zigzag has now been completed. This view is supported by the upward move that is currently unfolding.
It is entirely possible that the advance will develop into an impulsive structure. Presumably, waves i and ii have already formed, and the market is now moving within an extending wave iii.
If this interpretation proves correct, the price is likely to continue climbing steadily in the near term, with the objective of surpassing the high established on April 17 of this year.
As illustrated by the chart, the upside potential under this scenario appears quite attractive. Therefore, it is recommended to consider long positions on a breakout above the local high.
Investment idea: BUY 1.1620, SL 1.1595, TP 1.1710.
