Euro Technical Outlook

Staying below 1.4141 keeps the trend pointed down. The series of lower highs and lows since 1.4340 may be a series of 1st and 2nd waves. Under this scenario, the decline from 1.4141 is a third of a third (powerful) wave decline. Trading above 1.4141 would trigger the alternate bullish count, in which the decline from above 1.4300 is an A-B-C correction that will be fully retraced.