Elliott wave analysis of EUR/USD (EURO)

As it was supposed a month ago (look update from October, 8 in my telegram channel), the uptrend got its natural development. Now the situation is slightly complicated. Firstly, the wave (iii) of ended with a truncation; secondly, (iv) looks more like a downward impulse than a correction.

The counting became less harmonious, but remained valid. But exactly as long as the orange level is intact. If the price breaks it, then I, in turn, will consider the further formation of the wave (v) of of "2" in the form of a double zigzag. The critical level for this option is shown in red on the chart.

Thus, the forecast for the euro remains upward. Either +/- from the current, or through a movement to the area of the red and blue fibs.