EUR/USD has formed a new retracement wave below W H3 pivot. We could see a continuation move down if price holds.
The fear of further Corona Virus outbreak is spreading through Forex and Equity markets. Heavy ranges with occasional roller coasters make it hard for trends to establish. From the analysis point of view the EUR/USD is still in uptrend on 4h but it is changing the direction. We might see a further drop if the price still keeps it below W H3 pivot. Targets are 1.1170 and 1.1150. A bounce above 1.1278 might still retest the high of this week 1.1348.
