Trend looks bearish in EUR/USD currency pair in daily time frame. Long term resistance is present at 1.1712 price level. Based on Elliott wave analysis, market is most likely going to print a top and then price is going to drop towards 1.1400 price level in coming trading days. However; if price breaks above 1.1712 resistance level then down trend is going to end. In such case, I would prefer to stay out of the market and reanalyze the price action of EUR/USD daily chart.
