EURUSD has turned lower at the end of last week, from our Fibonacci resistance levels placed near 1.1400. We have seen a nice sell-off in the last two trading days so we assume that wave 5) is complete, but for the final confirmation we need a break of 1.1060 support, when the market will open the door for much lower levels, ideally into an impulsive sell-off. Keep in mind that with five waves up from 1.0523 pair might have accomplished a big flat correction in wave IV, on daily chart.
For a full update make sure to check out video analysis below.
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