EURUSD Remains Bearish

On EURUSD we see the price falling sharply since February when the pair have completed a corrective rally of a higher degree. Notice that there was a strong and extended leg down through April which fits as sub-wave three of an impulsive decline. As such, more weakness will be expected as fall should be made by five waves. Currently, we see price looking for support for sub-wave five of 3), ideally around the Fibonacci ratio of 123.6.

EURUSD, Daily

For more detailed analysis, check the video below. 

Video Length: 00:14:14

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