The EUR/USD seems to be making a bullish retracement within the downtrend. The month of October has ended without a bearish break of the bottom at 1.0450, which in my analysis means that an ABC (green) now seems a more likely scenario than a 123 (green). T
...The EUR/USD downtrend has until now only reached the 100% Fibonacci target level and has not seen a substantial bearish impulse as yet, which increases the chance of an ABC (green) developing rather than a 123 (green).
The EUR/USD is making another
...The EUR/USD broke the bear flag chart pattern during the FOMC news event and posted a new lower low which is most likely part of the wave 3 (purple). The bearish trend is either part of a wave 3 or wave C (green). A wave C could see price stop anywhere bet
...The EUR/USD will be heavily impacted by the FOMC rate decision and statement later today. A EUR/USD break above resistance (red) invalidates the current wave structure, whereas a break below support (green) could see price continue with its downtrend.
The EUR/USD has space to fall further within waves 3 (green/brown) but the momentum will depend on the FOMC rate decision and statement this week.
The EUR/USD is probably in a wave 4 bear flag formation (bottom is geen line) and could head lower agai
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