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EURUSD : Correction Could Be Underway


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Oct 30 2015

EURUSD fell again on Wednesday after recent consolidation to 1.1090 that we labeled it as wave 4. After that we have seen wave 5 down now that hit 261.8% extension of wave 1 measured from wave 2, so it means that support can be near. We can already see some recovery back to 1.1000 so ideally correction is now in play towards1.1100-1.1150 resistance area, from where new leg down may occur at the start of November.

#We knew that EUR weakness is coming already already at the start of October. We highlighted this also in our video analysis on Oct 14th in which we covered USDCHF as well. CLICK HERE


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