EURUSD might have taken quite a few traders by surprise as it pipped below 1.1750 marginally and pulled back over 85 pips towards 1.1812. Believe it or not, we are still not ruling out the probability of an expanded flat for Wave 2 termination. If the above structure unfolds accordingly, EURUSD could be on its way through 1.1950 levels in the next few trading sessions, to complete the counter trend. A push through 1.1820/30 should instill further confidence on the above structure. The larger degree structure remains bearish though and selling on rallies is recommended.
Remain short against 1.2010, target is open.
Good luck!
Remain short against 1.2010, target is open.
Good luck!