Eur/Usd is down already more than 500 pips since past weeks high, established at 1.4278 region. The pair is extremely oversold, and a five wave structure from the most recent highs suggests that Euro should recover in the very near future. Elliott wave theory says that trend always change a direction after every five waves, impulsive structure.
As such, we are expecting higher prices as long as the pair trades above 1.3670 weekly low. More in the video.