Trend is bearish in 1 hour chart of EUR/USD currency pair. Since last week, price is moving sideways and based on Elliott wave analysis current sideways price action is most likely going to end in coming trading days. Important resistance in hourly chart is present at 1.1215 price level and we could also consider this as bearish Elliott wave count in-validation point. This means, as long as price of EUR/USD currency pair stays below 1.1215 resistance level, price is going to drop towards 1.0900 round number. If a bullish candlestick closes above 1.1215 resistance level then down trend is going to end. Hence, I might like to stay out of the market and re-examine the price chart.
