EUR/USD has formed a new retracement wave below the W H3 pivot. We could see a continuation move down if price holds.
The fear of further CoronaVirus outbreak is spreading through Forex and Equity markets. Heavy ranges with occasional roller coasters make it hard for trends to establish. From the analysis point of view the EUR/USD is still in uptrend on 4h but it is changing the direction. We might see a further drop if the price still keeps it below W H3 pivot. Targets are 1.1170 and 1.1150. A bounce above 1.1278 might still retest the high of this week 1.1348.
Many green pips,
Nenad Kerkez aka Tarantula FX