The EURUSD pattern suggests that the pair is about to plunge. 5 waves down from 1.4340 make up wave 1 or A of a 5 or 3 wave bearish sequence. The rally from 1.3804 is in 3 waves, which confirms that the larger trend is down. The minimum objective is below 1.3804 although there is much greater bearish potential. There is the risk of a push above last night’s high (1.4060) prior to resumption of weakness.
