EURUSD has fallen sharply for the second straight week, pressured by bearish momentum and political uncertainty surrounding the U.S. election outcome. Further weakness toward sub-1.0400 levels appears likely, with the pair eyeing the lower boundary of its corrective channel. This aligns with wave (c) of II, which signals the continuation of the downtrend.

As election results shape market sentiment, potential volatility could exacerbate the pair’s trajectory. Traders should watch key developments closely, as shifting expectations around fiscal policy and economic stability may play a pivotal role in the coming weeks.