EUR/USD - Look for a break below 1.3593 to confirm wave v is developing.

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EUR/USD:

 

I'm currently looking for a break below 1.3593 to confirm, that wave v lower towards 1.3526 and likely even lower towards 1.3457 is developing. Once wave v is in place we should look for a correction towards 1.3657 - 1.3677 area before renewed downside pressure takes over for a decline towards strong support near 1.3200 and a break below here will confirm a continuation lower towards 1.2756.

 

However, as long as support at 1.3593 protects the downside we could see a new test of resistance at 1.3656, but that is less likely.