In some examples the market is so fast that it is hard to even follow it, with sharp waves and without any big retracements. Normally this occurs when some very complex and long sideways corrective patterns are finally broken. And this is exactly what is happening on the EUR/USD now; a strong bear market continuation following a completed complex correction last week at 1.1300.

We do not see any real pullbacks at this stage, and when they occur they will not be deep. So we need to consider idea of a sharp wave V headed down to 1.0400 area.

At the moment we see price trading within blue wave three, that could be in final stages.

EUR/USD, 4H

EUR/USD, Daily