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Eur/Usd fell sharply during the past few weeks from 1.4279 region, where an impulse wave (C) completed a three wave bounce from 1.1875 region. A decline from the highs is very powerfully, and signals for more weakness ahead since the prices also fell below 1.3330 region, which confirms a bearish scenario and invalidates any bullish interpretations.

euro dollar targets November 28Guest post by  Gregor Horvat

With this being said, we anticipate an impulse structure from the top, with wave 3) underway, since recent corrective move within a downtrend completed at 1.3785 labelled as a red wave 2). The minimum requirements for wave 3) target are levels shown around 1.2950, as wave three is very rarely shorter than wave one, but the typical target is around 1.2450-1.2500; 161.8% wave 1) extension, measured from a wave 2) high.

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