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We have seen EUR/USD move lower in a temporary corrective wave, which we expect will be a bit deeper than what we have seen till now. We expect minor resistance near 1.0922 will cap the upside for a move closer to support at 1.0783 from where the next impulsive rally through the neckline resistance at 1.0965 is expected. A break above 1.0965 will activate the S/H/S bottom for a rally towards the former peak at 1.1275.
For now, look for a corrective decline closer to support at 1.0783 and then a new impulsive rally from there.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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