EUR/USD failed to break above resistance at 1.0931. Instead, it took another dive below support at 1.0766, which changed the count. The best alternate count is the above, which calls for EUR/USD to continue lower to test support near 1.0530 as an expanded flat correction is unfolding from the peak of wave 1 at 1.1008. Once the C wave of the expanded flat completes near 1.0530, we should see another rally higher towards at least 1.2085 and possibly higher towards 1.3045.
However, for now we should continue to look for more downside pressure towards 1.0530 to complete wave C in an expanded flat correction from 1.1008.
