EUR/USD (4H): LONG toward the 1.15670 resistance area.

The sharp decline in EURUSD required a substantial revision of my previous forecast. Price moved below 1.14816, invalidating the earlier bullish impulsive wave count.
Under the updated scenario, I consider higher-degree wave "4" complete at the 1.17127 high. The subsequent decline may represent higher-degree wave "5". This scenario anticipates a break below the wave "3" low at 1.13249, although the internal structure of the new move still requires clarification.
My immediate focus is a potential corrective rebound. The local decline is developing an "a", "b", "c" structure, provisionally labeled wave "W" within a more complex pattern. Once it is complete, I expect a recovery in connecting wave "X".
However, a final low has not been confirmed. EURUSD may still test the 1.14482 support area before turning higher. An earlier recovery is also possible if the current declining structure has already completed.
My nearest upside target is the 1.15670 resistance area. This is the main focus of the current idea. I consider a potential advance toward this level a corrective phase within the broader bearish scenario.
A short-term recovery alone would not confirm that the entire decline is over. If price reaches 1.15670, its reaction and the structure of the rebound will need to be reassessed, as sellers may regain control afterward.
I will consider long positions once a reliable bullish reversal pattern appears. As long as the decline continues without a confirmed reversal, the completion of wave "W" remains a working assumption.