EUR/USD Slides to a New Low: Elliott Wave Analysis

Technical analysis of Forex market

US stocks were stable yesterday while equities in Europe came down as the situation in Ukraine is not better. However, negotiations between Russia and Ukraine will reportedly still take place soon. So there can be some hope for price stabilization.

EURUSD is coming sharply down due to the situation in Ukraine, currently already accelerating so it seems that the pair is in impulsive sell-off headed back to a new low, thus more weakness can follow after rallies until it fully completes a five-wave bearish cycle.

EUR/USD 4h Elliott Wave analysis