The EUR/USD broke below the support trend line (dotted blue) and has extended the wave X (brown) correction to a lower point. Further downside is possible on lower time frames as long as price stays below the resistance levels (yellow and also orange).
The EUR/USD could retest the major bottom (green line) if it continues to bounce off the resistance (yellow line). A break above the yellow line probably indicates a change of the wave count to a potential 1-2 (magenta).
Please note that the update is posted with permission from Admiral Markets