OANDA:EURUSD   Euro / U.S. Dollar
The most recent supply zones would be at the 23 and 38% retrace of this 3rd wave, which would be the targets. As far as it extended you gotta be careful, may just get a flat to the 23% line. But wave was overextended Could get a lot more. It will depend how this shakes out. It is within a correction right now and it is monday afternoon. But it did break trend line of a 5 wave, which was an extended 3rd wave, then it went into correction. Can wind up with a flat pattern, which then could extend further and possibly break out of channel for more downside. We may wind up with a short 5th wave up eventually producing a bigger structure which will be for the trend reversal... But that would take time.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.