EUR/USD downtrend back in play – EW-Forecast

FXStreet (Barcelona) - Gregor Horvat of EW-Forecast, notes recent price actions suggests that EUR/USD downtrend is expected to continue back to 1.0458 levels.

Key Quotes

“EURUSD keeps trading lower, with yesterdays close beneath 1.0710 support which puts bearish price action in play.”

“An updated count now shows a completed wave IV triangle so downtrend is expected to continue into black wave V, back to 1.0458 level. Short-term invalidation level is at 1.0888.”