EUR-USD moved lower recently by 100 pips, as expected, which could be the start of a red wave C), and sub-wave of a blue wave (D), that should fall toward the 1.3500 zone, if the 1.3735 resistance area can stay in place.

Once wave (D) is complete, we should see another three-wave move into wave (E) leg, before a triangle pattern of a black wave IV can finally be done.

Overall, a bearish view remains in play while 1.3838 resistance holds.

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