Has wave 5 of EUR/USD finished?

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Today's NFP caused a significant drop in the price, but it did not break below last week's low. This means we cannot yet conclude that wave 5 has ended.

The price is also hovering in the same area as it was two weeks ago (highlighted in blue), which might suggest a flat correction for wave 4. This is a common in wave 4.

In summary: it's possible that wave 5 hasn't even started yet.

Therefore, it’s still a good opportunity to take a buy position if the conditions are favorable.
For a safer approach, wait until wave 5 appears to have ended before taking a sell position.
Alternatively, if the price breaks below the previous low, which we assume is the end of wave 4, we can start looking for sell positions.

Good luck!

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