The current consolidation is recognised by the bearish
behaviour of how the pair has been moving. I believe that EUR/USD
will create a false breakout as this gives an advantage for the trend to potentially retrace, however I do think that the trend will still move in a corrective manner, I have applied the Elliot wave
structure to map out what may happen in order for the bearish
consolidation to advance towards a new lower low. I have set my point at B as there is still structure to be completed within a specific range.