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    EUR/USD: Possibility of C leg extending lower

       
    The EUR/USD pair has fallen after spiking higher on Friday. It has formed what looks like an incomplete a-b-c pattern which appears to have finished forming legs A and B, but still has not fallen in a final C leg lower.

    A break below the 1.0955 lows would probably be sufficient to confirm a move down to a target at 1.0902, which is the 61.8% extrapolation of A and the minimum expectation for the pattern.

    The short-term trend is down adding further credence to the bearish forecast.
    EURUSD03final

       
    The EUR/USD pair has fallen after spiking higher on Friday. It has formed what looks like an incomplete a-b-c pattern which appears to have finished forming legs A and B, but still has not fallen in a final C leg lower.

    A break below the 1.0955 lows would probably be sufficient to confirm a move down to a target at 1.0902, which is the 61.8% extrapolation of A and the minimum expectation for the pattern.

    The short-term trend is down adding further credence to the bearish forecast.
    EURUSD03final


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