EURUSD was higher recently, but not much. Pair slowed down again very quickly around 1.14 level which we see it as a very strong resistance.
On 4h chart, EURUSD stabilized after a sharp sell-off from 1.1600 that we see as an extended wave 3) that belongs to the ongoing bearish impulse which may resume after a current rally.
We see the current slow price action as wave 4), now at 38.2% Fibonacci level resistance where pair may shift back to the downside this month. Break below 1.1250 will make a room for a fifth wave move back below 1.1185.
EUR/USD 4h Elliott Wave analysis
