EUR/USD Bearish Momentum Challenges 1.21 Support Zone

2 min read

Hi traders,

the EUR/USD bearish momentum is still intact and is now testing a key support zone (green lines) and the 50% Fib of wave 4.

EUR/USD

4 hour

For the moment, the bearish pressure is most likely part of a wave C (blue) unless price manages to break below the 50% Fibonacci level would make a downtrend more likely.

1 hour

The EUR/USD could either extend the wave 3 (green) for one more lower low or make a retracement probably within wave 4 (green).

Good trading,

Chris Svorcik
Elite CurrenSea

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