EURUSD has been on a downtrend since the beginning of this week. The market is currently in a corrective phase which is the corrective 3-wave pattern/ABC pattern.
The market is currently moving sideways correctively. I expect this pair to form a head and shoulder pattern, before dropping at least up to 1.0212. I expect the market to buy up 1.0632 and then drop up to our outer corrective wave c (1.0212). Should the market break below 1.0527 (a major zone/support zone), this setup will be invalidated.
Origin: FreshForex
