Hellena | EURUSD (4H): SHORT to the 1.14312 support area.

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Hellena | EURUSD (4H): SHORT to the 1.14312 support area.Euro vs. US DollarFX:EURUSDHellena_TradeI apologize for not publishing any new forecasts for almost a week. I needed to step back, watch how the market developed, and get a clearer view of the structure before sharing another setup. The broader picture is starting to make more sense. EURUSD appears to be developing a complex "W"-"X"-"Y" correction. After completing wave "W", the price moved higher within wave "X", which may already be complete or approaching its final stage. Wave "C" of the intermediate degree is unfolding within wave "X". However, there is one detail that requires caution. The smaller wave "5" may not be fully complete yet. This leaves room for one more advance toward the 1.16000-1.16183 resistance area before the bearish reversal begins. Even with this possibility, I expect wave "X" to end soon and the larger bearish wave "Y" to start developing. The decline may begin after one final test of resistance, or directly from current levels. My first target is the 1.14200-1.14420 support area, with 1.14312 as the main reference level. EURUSD spent a considerable amount of time trading around this zone in July, and the latest bullish impulse accelerated after the price broke above it. This makes it the first significant support area the market may revisit. Wave "Y" could eventually extend toward the wave "B" low at 1.13527. However, I do not want to target the entire move before the bearish structure is confirmed. For now, it makes more sense to focus on the nearest strong support and reassess the setup once the price reaches it. The U.S. dollar started Friday on a firmer footing against the euro. Higher Treasury yields and safe-haven demand amid geopolitical uncertainty are supporting the currency. This backdrop does not contradict the bearish EURUSD scenario, although shifting expectations for Federal Reserve policy may bring sharp volatility. Manage your capital properly and wisely! Enter trades only based on reliable patterns!