EURUSD 3.May
On the previous week EURUSD continued its decline and set another low in mid-term view. This decline is shown at 4H chart. It’s also depicted, that price didn’t reach even the initial Fibonacci retracement level, so it means EURUSD is continuing the forming of wave 5, that was described earlier at Daily charts.
Scaling graphic to 1 Hour, you can notice the price has completed just 3 waves during its latter downside move, right now its at the stage of the retracement (possibly it can be named as wave 4), after that we should await another low.
In the following hours I’ll post a detailed view on the current upside move of EU on lower timeframes, so stay tuned!
2 charts are attached.
