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The EUR/USD broke below the support trend line and zone (dotted blue) yesterday when the European Central Bank (EBC) president Draghi was announcing the continuation of the Quantitative Easing program. The Euro reacted bearishly and fell against the USD, which invalidated a larger bullish correction and makes a continuation towards the 38.2% Fib of wave 4 vs 3 likely now.
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EUR/USD is showing strong bearish momentum and is most likely in a wave 3 (blue) which could become extended if a triangle or bear flag pattern appears (purple lines).
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Origin: Admiral Markets
