Good day traders!

EUR/USD has turned lower in the last few weeks and it appears that there is more weakness ahead within wave 3)/C), towards 1.1450/1.1500 this week. Reason for more downside in the short-term is recent recovery back to 1.1670/90 area where former swing low acted as a resistance for blue wave four so we think that new lows can be seen, while the market is trading below 1.1727. Only a break above that level may send euro back to bullish mode.

EUR/USD, 4H