The EUR/USD retested the 138.2% Fibonacci level for the 3rd time, but has so far been unable to break below the support. This makes the wave WXY (blue) still the most likely scenario.
The EUR/USD is moving sideways and is substantially slowing down
...The EURUSD is in a downtrend channel but price is approaching the yearly low and showing mulitple divergence and falling wedge chart pattern, GBPUSD is near the bottom of the bearish channel, USDJPY remains near resistance, and AUDUSD has mulitple trend lines surroundin
...The EUR/USD has so far been unable to break below the 138.2% Fibonacci support level, which could invalidate the wave X (blue) wave count. A break above the resistance trend lines (orange/yellow) could spark a bigger bullish correction.
The EUR/USD
...The EUR/USD remains ingrained in a downtrend channel which is indicated by the orange and blue trend lines. Price is near the year low (green) of 1.0460 which could act as a strong support level.
The EUR/USD price action has moved sideways yesterday
...The EUR/USD continues its downtrend but the angle of the channel remains shallow. Divergence (purple) and the yearly low (green) also remain present.
The EUR/USD broke the channel (dotted green) and posted one more lower low. Price however failed to
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