Let’s take a look at the EUR/USD hourly chart. The underlying trend remains bullish but we are potentially in the middle of a 3 wave retracemeent.
Look for a potential move up to complete Wave B (or 2), then a final movement down to complete Wave C (or 3).
Once the retracement has completed, look for a move back upwards – potentially to the 1.4800 level and above.
Good luck with trading.