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EUR/USD Downtrend Continues After Bearish Breakout

June 20, 2018 08:51

EUR/USD

4 hour


The EUR/USD downtrend continues after another bearish break of a smaller consolidation zone. The next key support zone (green) is the previous bottom. Price seems to be building a potential 5th wave within wave A (purple) but price needs to break below support. The main target is 1.1450 due to the presence of a 50% Fibonacci retracement level on the weekly chart.

1 hour


The EUR/USD seems to building a potential break, pullback and continuation within the bearish wave 5 (purple).

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