EURUSD came down as expected to a new low after wave 4 corrective rise so price is now seen in late stages of a leading diagonal in (A). Therefore, Euro can see limited weakness and slow price action in days ahead but only if that’s a throw-over formation. In either case, we think that a higher degree of bearish correction is still underway and that pair can trade much lower after wave B rally which can retest higher resistance, near 1.0930-1.1060. However, we will once again turn bullish on the euro once the corrective A-B-C drop comes to an end, but at the moment that’s clearly not the case yet.
. Therefore, Euro can see limited weakness and slow price action in days ahead but only if that's a throw-over formation. In either case, we think that a higher degree of bearish correction is still underway and that pair can trade much lower after wave B rally which can retest higher resistance, near 1.0930-1.1060. However, we will once again turn bullish on the euro once the corrective A-B-C drop comes to an end, but at the moment that's clearly not the case yet.){kind=link}