Price has been in a bearish trend on EURUSD, but that remains the case. We're currently in a 1-2-3-4-5 impulsive phase. On the intermediate degree wave 3 is sub-divided into an impulse as well which should be the case, which is a minor degree.
On the minor degree, we're in a wave 4 phase and we can expect a wave 5 sells. Remember waves 1 and 4 never overlap and wave 4 often retraces to the 34,8 Fibonacci retracement level. The Wave 5 sell is projected to touch the 2.618 Fib extension on Wave (3).
On the minor degree, we're in a wave 4 phase and we can expect a wave 5 sells. Remember waves 1 and 4 never overlap and wave 4 often retraces to the 34,8 Fibonacci retracement level. The Wave 5 sell is projected to touch the 2.618 Fib extension on Wave (3).