We see some serious and very strong dollar move at the start of a new trading week. EURUSD just went below August 2018 levels quite aggressively which seems like an important break-down, but until we see a close below that price it can be too soon to call that a breakdown! Also, an intraday chart shows pair in a fifth wave of decline which may see limited weakness here at 1.1200-1.1250.
EURUSD is at the lows meaning that decline from September 21st is unfolding, but we still assume that reversal may not be far away, unless we get accelerating decline below 1.1200. For now, we see pair in wave Y that can complete wave B) near 1.1250 level. A confirmation for a completed wave B) would be a rise in five waves back above 1.1500.
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