EURUSD bulls might be poised to push through 1.1850, which is fibonacci 0.618 retracement zone of the entire drop between 1.2010 and 1.1610 respectively. The most probable wave count is as follows: the drop from 1.2010 through 1.1610 was corrective a-b-c. The proposed rally towards 1.1850 also looks corrective a-b-c, with wave c unfolding. Quite possible that EURUSD is unfolding as a flat 3-3-5 at one larger degree.
Remain short, add more @ 1.1850, stop @ 1.2010, target is open.
Good luck!
Remain short, add more @ 1.1850, stop @ 1.2010, target is open.
Good luck!