EUR/USD Elliott Wave Analysis: Approaches Support

Technical analysis of Forex market

EURUSD is coming slightly down, now approaching the trendline support which may open door for 1.17 if line is broken.

As per Elliott Wave analysis, EURUSD is sliding down into wave 5 which has touched March low but there is still room for another and finally sell-off towards 1.1600-1.1650 area to complete wave 5 of C). Only break above black wave 4 can confirm a change in trend.

EUR/USD 4h Elliott Wave chart