An updated wave scenario appears to be unfolding on the EUR/USD pair. The previously observed corrective rally, which evolved into a more complex double zigzag pattern, seems to have completed. The recent sharp drop in price likely marks the beginning of a bearish impulse — more specifically, the early stage of its third wave.
This opens the door to a potentially extended bearish trend that could last for a considerable period. The coming trading sessions will be crucial in confirming this scenario. In the meantime, short positions are favored from current levels, with a target set near the low established by the anticipated wave y.
Investment Idea: SELL 1.1510, Stop Loss: 1.1550, Take Profit: 1.1050
Origin: FreshForex
