EUR/USD Elliott Wave Analysis: More Weakness Ahead

Technical analysis of Forex market

Stocks are higher since the FED decision last week, so buy the rumor sell the news is what caused a turn. We see commodity currencies doing well, with more upside in view in the very near term. If you favor the USD strength then track it vs EUR as this one can stay weak due to the situation in Ukraine.

Technically we see EURUSD making a corrective rise from the low, so more weakness can be seen, especially when trendline is support broken.

EUR/USD 4h Elliott Wave analysis