EURUSD Rate: EURUSD traded at 1.11879 on the four-hour chart at 7:02 AM New York time, October 13. Sellers remain dominant amid a sustained downtrend.
EURUSD Elliott Wave Analysis
The chart indicates a developing bearish impulse. Wave (iii) ended near 1.11526, followed by wave (iv). Within wave (v), subwaves (i) and (ii) appear complete, with (iii) potentially bottoming near 1.11526. A corrective rebound in (iv) may precede another decline in (v).
- Wave Structure: Bearish impulse.
- Trendline: Descending.
- Support: 1.11526.
- Resistance: 1.12000, then 1.12768.
- Invalidation: 1.12768 for the indicated internal count.
A rebound toward 1.1210 could complete (iv). A subsequent break below 1.11526 would support the bearish continuation scenario.
EURUSD News: The dollar eased from 18-month highs on October 13, while concerns over France’s fiscal outlook weighed on the euro. US CPI is scheduled for October 14 at 8:30 AM ET, potentially driving volatility.