Bearish pattern on EUR/USD can look for another leg down

Gregor Horvat Wavetraders

USDollar is turning down against some major currencies, especially vs commodity currencies such as Aussie (AUDUSD), but looking at the 10Y US Notes chart, we still see room for another drop within wave »v« of C, which means that DXY may not turn down just like that. Looking at the EURUSD 4h time frame, there was some nice intraday rise to 1.07, but also move can be corrective within downtrend. Much stronger and important support can be around 1.05

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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