EOS/USD can be trading in a big, bearish move labeled as a wave c, down from 2.90 level. At the moment we see price rallying from the 2.19 level, into a correction labeled as sub-wave (iv) of c. Possible resistance/bearish turn for sub-wave (iv) can be at the 2.42 level, level of a former swing low, and at the 2.4/2.5 region, where Fib. ratio of 50.0 and the upper Elliott wave channel line can react as resistance. That said, a completed corrective rally in (iv) would be considered once price would start dropping towards the 2.18 level.
If price starts rallying above the 2.6 level, then a low for wave c can already be in place, and a bullish turn underway.
EOS/USD, 4h
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