EURUSD is in a strong downtrend since. The market is currently in a corrective phase which is the corrective 3-wave pattern/ABC pattern. As we can see on the chart above, the market has been rejected at a major resistance zone (1.0587). I expect the price to drop from this resistance zone at least up o 1.0212
This will mark the end of the corrective phase. Lastly should the market break above the resistance zone (1.0587), the setup will be invalidated. You can enter sell trade now, place your take profit at 1.0212 .
Origin: FreshForex
