The price action on the EUR/USD this week suggests a possible wave 2 "Triangle". Although more common in the wave 4 position they can form in wave 2 as well. It usually means the price is coiled up quite a bit and thrusts out quite strongly. The break of 1.1050 will be telling. If this does hold true then the chances are wave 4 will be a ZigZag ABC. Time will tell.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.