EURUSD intraday is slow, likely still in a corrective mode that can cause another drop early this week.

On 4h EURUSD is coming down, breaking sharply below August levels meaning that bears are still in play, likely forming an extension from 1.1755, maybe even fifth wave targeting 1.1530 area.

So for now, trend is bearish and it will stay unchanged unless we see five wave rally from the low and back above 1.660.

EUR/USD 4h Elliott Wave analysis

EURUSD


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