The USD slowed down as US stocks turned higher on Friday, but this can be only a temporary slowdown as stocks may remain in downtrend due to risks between US and Russia. However, there are RBA, BOE and ECB, scheduled for this week, which can be catalysts for some dollar resistance, especially as other CB may follow the FED.
EURUSD is coming to the downside on 4h chart, now even accelerating after hawkish FED last week, so it appears that more weakness is in play now for a fifth wave, which should be completed by a five-wave cycle. This can then be the final leg of wave C) when looking at higher degree waves.
EUR/USD 4h Elliott Wave analysis
