Eur/usd reached new highs in this past week, but was very bearish on Friday, which actually could lead to some deeper decline in the coming week. In this free Elliott wave video, we will present you the main technical reasons that could drive the Eur/usd lower, maybe even towards 1.3800 region, while the 1.4280 top is in place.
As you could noticed in the video, we have a five wave decline from the recent highs on the Eur/Usd, and in Elliott Wave Theory a five wave move, called an impulse structure, always shows a direction of a trend! So, either is this structure a start of a new trend, or its only part of some larger correction, lower levels should be seen.