EURUSD

A bearish explanation on the ongoing decline of EURUSD :

On the frame of daily chart, after the fine ending diagonal wave C of (E), EURUSD has developed an impulsive five-waves sequence down, that its extended fifth wave is being completed.

On the current decline, how far down can EURUSD be expected to go?

Based on the alternative, the fifth wave of ongoing wave 5 could still be extended to expected lower level. A common fibonacci target for extreme of the fifth wave could be around 1.0749 , where establishes an equality ratio between the waves v and i of circled degree.

EURUSD - Daily

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