Photo by CAR GIRL on Unsplash

EURUSD is coming down after a rally back to 1.0930 resistance, where wave (B) found new sellers, after only a temporary rise when pair came out of the leading diagonal in wave (A). Well, pair turned back to the lows now; after the ECB rate decision and now also after the FED when USD found buyers across the board, so the euro remains bearish for now, but still seen in wave (C) that can be coming down to 1.04 support, where whole corrective drop from summer highs can come to an end. However, wave (C) looks impulsive and extended, so ideally we will see a five-wave drop within that (C), thus be aware of more short-term weakness within (C) after current intraday rally that should remain below the channel resistance line. Break above it will be a change in trend.

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