EUR/USD is testing key resistance at 1.0617. We need a clear break above here to confirm that wave 2 has been completed and a new impulsive rally is ready to take over in wave 3. Key resistance at 1.0617 might be able to cap the price at first, but it should be a matter of time before the key resistance caves in and a new impulsive rally is confirmed in wave 3. The long-term target for wave 3 is seen at a low of 1.2085.
For now, keep an eye on resistance at 1.0617 as a break above here is the real go for the next big upswing.