Chart Source: MetaTrader 5 terminal
The graph constitutes of a H4 EUR/USD. Based on our findings, we can infer that EUR/USD is on a downtrend and we see that there has been an end to the corrective waves (a, b and c). Now, we can see a downward Motion Wave 1, which will hit close to 61.8% of Wave C and that will act as a resistance point. Traders might find way to get into a Sell trade at around 1.1754. There might be some pressure easing due to the Italian political development.
The following data is the list of announcements that will affect the movement of the currency pair.
Data Courtesy: www.fxstreet.com