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Test

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-Structure LH´s and LL´s -ABCD in play -Overall uptrend if we look at the weekly chart -Arrows show what could happen I see this big move to the down as a major retracement for the weekly chart.

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Read chart/ Personally i would wait for a indecision candle before entering this trade and enter it if sellers are able to make a new low after the indecision candle because that would mean that sellers taking control of price.

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-ABCD IN PLAY -HEADING DOWN TO MAJOR 1.0960 SUPPORT AREA / 0.61% Level -HEADING TO SUPPORT TREND LINE AT THE 1.0960 AREA But be careful with this trade, wait for a confirmation (Price Action) before entering this trade, because the dollar index is showing a different story on what could happen to EUR/USD.

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-EU uptrend -ABCD in play -Price looking like it´s being rejected from 1.1150 -Sitting on 0.61 fibo Personally i would wait for the second candle for a confirmation because high impact news is coming

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EUR/USD looks like it can go either up or down if it breaks the trendlines, so i guess patience is the key word for eu at the moment.

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Updating description asap

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Elliot Wave Theory

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Elliot Wave Theory

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Second analysis

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My first Analysis: I think price will bounce of 1.05800 Major Trend Support line and then rally to 1.06300 Resistance line.