EUR/USD broke below key support at 1.0788 which flipped the preferred count over to a complete five-wave rally from 0.9505 to 1.1096. So, we should now expect a more prolonged corrective decline towards 1.0535 in wave II.
Short-term we could see EUR/USD's move a bit higher to 1.0910 before the next push lower towards the ideal 1.0535 target.
