On EURUSD we are looking at a bigger, bearish reversal being made, down from 2018 highs where higher degree correction looks to have found a top.

Specifically, we see a new five-wave drop in motion that can be labeled as a higher degree wave one and can look for a temporary base and reversal around the 1.1460/1.1312 zone.

EURUSD, Daily

On 4h chart of EURUSD we can see that price made a sharp, minor recovery yesterday which can be a suggestion that wave 3) of a bigger impulse is completed and that a new three-wave correction is in progress. If that is the case then current rise can be a wave A as part of wave 4) that can see resistance and a turn into wave B at around the 1.1750/1.1720 area.

EURUSD, 4h