Written by Jamie Saettele, Currency Analyst: It is still possible that the EURUSD challenges congestion near 1.4452 before the pair reverses and drops to a new low (below 1.4330). However, the EURUSD may drop below 1.4330 without first challenging 1.4452 and complete wave C (and larger wave 4) of the A-B-C decline from 1.4967. A potential terminus for the decline is where wave C = wave A at 1.4309. The next 5 to 6 weeks should see larger wave 5 exceed 1.5000.
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