EUR/USD - Downtrend persists, but momentum is weak

EUR/USD - Downtrend persists, but momentum is weak 

The downtrend from 1.1494 persists, but momentum is becoming very weak and the ending diagonal also sends us a signal, that this downtrend soon will be coming to an end for a corrective rally towards the origin of the ending diaonal at 1.0830.

Short term, the move lower towards 1.0530 and maybe even lower to 1.0481 will remain in focus as long as minor resistance at 1.0605 protects the upside, but a break above here, indicates that wave iii has come to an end and that a shallow sideways consolidation in wave iv towards 1.0830 should be expected. 

Thomas
2014-05-28
phenomenal new service EWS, I have followed you for 18 months and the exceptional analysis continues unabated! I look forward to the daily updates focusing on the most interesting and potentially lucr...
Roelant
2019-06-14
Dear Elliottwavesurfer,

Awesome action in your crude oil surfing 2019! Jumping these waves is a sure way out of economic slavery.
You deserve a slot on MSM. But that would be the end unfortunately...
Jonathan
2017-10-24
Your work is exceptional and glad I found you.