EURUSD – March 19th, 2020

EUR/USD, 12H chart. The market has plunged. It seems like the last upward impulse turned out to be wave C of a flat pattern in wave (B). If correct, the current decline should be wave (C) of ((B)). The main critical level for this scenario is at 1.0335.

EUR/USD, 45Min chart. Likely, the current downward impulse in wave (C) is almost over. In this case, we’re likely going to have the rest of wave 5 shortly. However, until a local five-wave price movement arrives, the price could continue declining.

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