Elliott Wave Analysis: EURUSD Could Charge Lower
EURUSD touched a new high last week ahead of FOMC press conference, but then it turned sharply lower from 1.1300 area that we highlighted it as an important resistance region. An updated count shows an ending diagonal on 4h chart placed in wave C; a powerful reversal pattern that can cause a strong drop for this month with minimum three waves down. Currently we see price trading at the start of wave C)/3), with Fibonacci projection zone of 261.8.
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