Key Points
- EUR/USD has extended its decline following the earlier invalidation of its bullish scenario.
- The latest four-hour count identifies green waves i and ii within the bearish structure.
- A limited rebound could precede another downward extension.
EURUSD Rate
EUR/USD traded at 1.10399 at 10:37 a.m. New York time, against an opening rate of 1.10548. The session recorded a high of 1.10729 and a low of 1.10351.
EURUSD Elliott Wave Analysis
The bearish scenario established in the November 11 forex outlook has gained further support as EUR/USD moves below the level recorded in that assessment.
The current chart retains red wave 4 at the preceding corrective peak, with green waves i and ii marking the initial subdivisions of the subsequent decline.
Selling has since extended further, while the blue projection allows a brief countertrend recovery before renewed weakness.
The broader bearish interpretation remains valid below its marked invalidation threshold, although no final downside target is specified.
Technical Analysis for November 13, 2026
- Trend: Bearish.
- Wave Structure: Green i and ii labeled.
- Daily Low: 1.10351.
- Invalidation: 1.12514.
- Projected Path: Temporary rebound, then further downside.
Trader's Question: Would a short-term EUR/USD rebound invalidate the bearish outlook?
Not automatically. A recovery could remain corrective; its wave structure and subsequent price behavior would determine whether the prevailing bearish interpretation remains supported.