0511 EURUSD just start its wave 5 inside the channel

FX:EURUSD   Euro / U.S. Dollar
EURUSD has a weak rally last week.
That made it back to test the channel again and make a bear look for sellers.
Considering the highest position of last week just hit the channel and bear views still on EURUSD , we would suggest this is a reflection point on the channel .
EURUSD could test 1.10 later after breaking down the 1.13 support.
To prevent that happen, it needs sideways to break the channel.
Lets see how it go on 4H chart.

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I agree, We could see more downside but I 'm looking at it as a possible bear running flat and not a motive pattern due to the price action
@Boon2, all possible .
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