EURUSD Elliott Wave Analysis: Two Scenarios, Both Bearish


EURUSD has been moving also down in the last 24hours, but it’s still unclear if decline is start of a larger sell-off or is this still part of a corrective wave 2 going up to 1.3700/30 region. We would love to see higher prices for short entries as shown on the first count below.
EURUSD count #1

EURUSD Elliott Wave Analysis 1

However, as traders we need to be aware of different scenarios. Therefore, we are already keeping an eye on very aggressive bearish look . Current bounce from the swing low can be wave (ii) but in such case we must see an impulsive sell-off from 1.3630/40 region. If weakness would resume from here, then shorts should be interesting.
EURUSD count #2

EURUSD Elliott Wave Analysis 2

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