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EUR/USD: retracement structure lasting and further bounce downward

Wave analysis

Technical analysis

Fundamental analysis

Complex analysis

   In reliance upon the main prediction published the former week the pair continued its retracing growth having renovated the previous lows a little. Considering the estimated target hasn’t been reached yet the level exercise at 1.4485\90 in the shortest prospect should be expected; thereupon the further creation of the descendant structure with the primer target at 1.4214 is presupposed; in case of the successful fixation lower – so called “clean air” and the absence of the significant resistances till 1.3800 are presumed – that is also seen at the daily time-frame.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst