EURUSD fell sharply lower at the end of June so price is now finally trading down into wave D that can be looking to test that 1.0820 swing support from a few months
while wave x bounce stays below there, expect more downside in the pair toward 119.92 – 118.38 area to complete wave (W) and end cycle from 4/27 peak and likely also 3/31 .
Cycle from 4/19 low has ended with wave ((X)) at 2.2008 on 5/26 & down from there has an W in place at 2.0690, X @ 2.1200 & while below there during the next ((x)) bounce equal legs-1.236 extension for Y of (W) comes in at 1.9875-1.9562. Afterward expect the X bounce fails below 5/26 highs again for the next leg lower.
Cycle from 5/3 peak ended with wave ((X)) at 1.1096. There is enough number of swings in place to call wave ((a)) completed but while above 1.1335 low, pair could reach as high as 1.1447 area to complete wave ((a)) before it starts ((b)) wave pull back.
