EURUSD pushing towards 1.1754 in the near term ?

2 בספט׳ 2020

EURUSD reversed from 1.2000 handle yesterday, in-line with expectations. It is slid over 150 pips and trades around 1.1850 levels as we prepare to publish. A break below 1.1754 will confirm that a meaningful corrective wave is underway, possibly towards the 1.1100 handle. Alternately, if EURUSD has terminated an expanded flat, we should be looking forward for a bearish reversal through 1.0636 mark. With a 5 wave rally terminating at 1.2000 handle, EURUSD could be setting for for a corrective drop or potential trend reversal (expanded flat termination). Either way, a drop towards 1.1100 at least, seems to be on cards.

Remain short, stop @ 1.2100, target is open.

Good luck!