EUR/USD: a 140-pip upside movement is pending. Do not miss it!

After initiating a massive drop from the 1.10330 area, the price has been declining ever since. As we know, the price moves in phases, meaning, after a massive impulsive, a correctional leg is needed. Currently, the price is sitting on a crucial area of support and we are anticipating for a short-term bullish phase to kick in, drive the price up, reach the zone illustrated on the graph, form another shoulder, then potentially, continue heading towards the south.