EUR/USD In Three-Wave Bear Move – Elliott Wave Analysis
Gregor Horvat | Aug 11, 2020 10:10AM ET
EURUSD looks to have fully unfolded a five-wave move within a higher degree wave 5, up from 1.116 level. At the moment we see price declining, down from 1.191 level, and below the trendline, which suggests a top in place, and a minimum three-wave reversal under way. That said, be aware of temporary pullbacks.
Also, the Relative strength index below suggest a bearish reversal as well.
EUR/USD, 4-Hour Chart
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