Elliott Wave Evaluation : EURUSD Dealing with A Correction

EURUSD fell again on Wednesday after recent consolidation to 1.1090 that we labeled it as wave 4. After that we have seen wave 5 down now that hit 261.8% extension of wave 1 which means that support can be near. We can already see some recovery back to 1.1000 so ideally correction is now in play back to 1.1100-1.1150 resistance area, from where new leg down may occur at the start of November.

EURUSD, 4H

Elliott Wave Evaluation : EURUSD Dealing with A Correction