EUR/USD is trading quite bearish as price made a nice five wave fall from recent highs at 1.1415. Because of a five wave drop, we now expect a pullback in the ABC corrective manner with resistance around 1.1351. We are still very cautious for the further outlook on this pair but we see at least one more push down possible after this corrective pullback completes. Latest data on NFP might push FED decision further to the years end and if that happens we might see further USD weakness. So we need more market data to support larger bearish view.
EUR/USD, 1H
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