Bears On The EURUSD Aiming For 1.0400

Daily Forex Technicals |

Written by Elliott Wave Financial Service |

Nov 21 16 08:57 GMT

In some examples market is so fast that it is hard to even follow it, with sharp waves and without any solid retracement. Normally this occurs when some very complex and long sideways corrective patterns are finally broken. And this is exactly what is happening on the EURUSD now, a strong bear market continuation following a completed complex correction last week at the 1.1300. We do not see any real pullbacks at this stage, and when they occur they will not be deep. So we need to consider idea of a sharp wave V headed down to 1.0400 area in the next few days.

EURUSD, 4H

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Bears On The EURUSD Aiming For 1.0400