EURUSD counter trend unfolding;Wave c should reach @ 1.1880/1.19

EURUSD has dropped to 1.1775 mark as we prepare to publish the hourly update. Believe it or not, the currency has room left for yet another push towards 1.1880/1.1900 mark. The short term wave structure is still looking to carve a Wave c rally, to complete the proposed a-b-c rally. EURO should stay above 1.1754 to keep the above count valid. Also note that fibonacci 0.618 retracement of earlier drop is seen through 1.1880/90 mark. High probability remains for Wave 2 to terminate around those levels.

Remain short, stop @ 1.1990, target remains open.


Good luck!