The Euro Currency Index with ticker EURX was in a recovery mode in the last couple of weeks, but EUR/XXX crosses didn’t move much, because other currencies were also quite strong, except Japanese yen.
Anyway, if we take a look at EURX chart, we can see it trading in a larger A-B-C corrective decline, where wave B can be coming to an end as an irregular/expanded (A)-(B)-(C) flat correction. So, if we are on the right path, then higher degree wave C decline is about to show up, which means that EUR could be one of the weakest currencies in upcoming days/weeks. This is also the reason why USdollar Index – DXY could stay sideways for a longer period of time.
