Elliott Wave Charting: EUR/USD has dropped 300 pips since the 1.3817 highs were established in the past week. The decline from that high has an impulsive structure, which means it is a part of a larger downside move. This looks to be the move of a blue wave (5) that is headed into new lows, below the 1.3434 wave (3) bottom. In the near term, a small upside corrective move should not be a surprise, before further weakness is shown.

TheLFB Charting: EUR/USD Four-Hour View

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