EURUSD fell sharply lower in the last few weeks with an accelerating price action confirming a continuation of a downtrend. We see a huge possibility for wave (3) in progress that is part of a big five wave move within wave V that began unfolding at the end of September, away from 1.1700. Based on current very strong bearish momentum, we may see an extension towards 1.0400 this year, where we see Fibonacci projected levels for wave (3). As long as price trades stays beneath 1.1082, the trend is down.
EURUSD, Daily
Read the rest of the article EURUSD: Bearish Price Action in Progress