EURUSD spiked down to 1.0600 but that's still not enough to put a top in place, simply because reversal from recent high is not that strong. In other words, current leg down can easily be wave four as well as a more complex ending diagonal! So, at this stage it will be important to see a daily close price; below 1.0580 would mean that pair is headed lower, while rise back above 1.0700 would indicate another push up to 1.0740/60 before market may finally come down. But generally, however, I believe that eventually EURUSD will resume its longer downtrend; sometimes it’s just tricky to call end of a complex corrective rally.

EURUSD, 1H

Silver reached our projected zone this week near 17.25 at triangle measurement from where strong turn lower has occurred in the last 24 hours. It looks like a strong downward reaction, so wave 5) completed wave 1 of a higher degree, about I warned you a few days back. If we are on the right track, then bearish three wave retracements are now in play, ideally back to 16.50-16.60 area.

SILVER, 1H

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