EURUSD has turned lower at the start of the month from around 1.3700 where we see a completed three wave rally on the smaller time frames. Three wave patterns are corrective within ongoing trend so we believe that EURUSD will continue to fall in coming weeks, maybe even back to 1.3290 after a decisive push through 1.3500 low that is now being testes. With that said, it appears that EURUSD has accomplished an ending diagonal near to 1.4000 a few months back, so fall could be quite strong in months ahead that may bring prices back to the start of that pattern, close to 1.2700.
EURUSD Daily Elliott Wave Analysis
