EURUSD came down as expected to a new low after wave 4 corrective rise so price is now seen in wave back, back at 1.0830 support. Therefore, the wedge shape may suggest limited weakness and slow price action in weeks ahead, as wave (A) can be coming to an end, but more weakness will show up after wave (B) rally that can show up in sessions ahead. As such, we think that higher degree correction is still underway and it can be much deeper as EURUSD pair might have completed a five-wave rise at around 1.1280 back in July. However, we will once again turn bullish on the euro once the corrective A-B-C drop will come to an end, but at the moment that's clearly not the case yet.