EURUSD touched a new high two weeks ago, but then turned sharply lower from 1.1300 area that we highlighted as an important resistance region. The 4h count shows an ending diagonal placed in wave C; a powerful reversal pattern that already caused a strong drop from end of blue wave C towards 1.1126 labeled as wave A)/1), first part of a reversal. That being said, currently we see price displaying a sideways movement so wave 2)/B) can be in the making and can retest 1.1200 area, before making a new drop lower.
EURUSD, 4H
