During the Asian session, the EUR/USD pair rose to 1.0740 against the US Fed’s decision on monetary policy and accelerating EU inflation.

The EUR/USD pair shows multidirectional dynamics, consolidating around 1.0940: activity in the market remains restrained, despite the publication of key macroeconomic statistics.

During morning trading, the EUR/USD pair is correcting at 1.0655, despite positive macroeconomic EU statistics.

The EUR/USD pair is moving within a long-term downward channel: in the middle of the month, the price reached its lower limit of 1.0600 and corrected to the middle line of Bollinger Bands 1.0725, where it is now trading.

A fall is possible.

On the daily chart, the upward wave B develops, within which the first wave 1 of (А) of B formed, and a downward correction forms as the second wave 2 of (А) of B. Now, the wave c of 2 is developing, within which the third wave of the lower level (iii) of c is forming. If the assumption is correct, the EUR/USD pair will fall to the area of 1.0410–1.0212. In this scenario, critical stop loss level is 1.0885.