Euro Technical Outlook

Until a break below 1.3747, there are numerous competing counts, including a triangle count as wave 4 within a diagonal from 1.2454. Bigger picture, I do expect weakness in the EURUSD but I’m not sure whether or not that decline occurs from here or after one more rally (above 1.4720). At this point, the bearish count shown above is valid against 1.4057. Near term, the EURUSD may complete a small correction with a rally above 1.3940.