EURUSD at crossroad @ 1.1180/90. Expext alteast a correction!

EURUSD hits 1.1180/90 today and pulls back sharply. We present the alternate scenario today (please view the chart within the rectangle box). The drop from 1.1500 through 1.0636 could be Wave 1. Subsequent structure looks corrective (all 3 waves), labelled as A-B-C, towards 1.1180/90 today, Wave 2 on the chart. If the above is correct, EURUSD might have just completed a down gartley and could reverse sharply lower. The former count of a Wave 3 higher also remains possible but a corrective drop should be due. Either way, EURUSD could be at a crossroad and could surprise many traders out there. We change our stance from aggressive long to neutral for now.

Strategy:

Neutral. Preparing to sell.

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