EURUSD resistance seen towards 1.1720

28 thg 9, 2020

EURUSD might have carved Waves 1,2 and 3 around 1.1754, 1.1915 and 1.1620 levels respectively. The recent pullback could be Wave 4 and it could most likely terminate through 1.1720 mark. If correct, EURUSD should stay below 1.1754 and turn lower toward 1.1500 handle to complete the first impulse from 1.2010. Alternately, EURUSD might be working on a potential Wave ii within Wave 3 and push through 1.1780/1.1800 before turning lower again. Ideally prices should stay below 1.1915 in the near term.

Short against 1.2010, targeting below 1.1100 at least.

Good luck!