This change of dynamic in short term is confirmed by the (50), which is also making a reversal. The last bounce at 1.09360 took place at the of the previous upper wave. That makes it a great for short term. Hence, we can expect the EURUSD to make another progression (3rd wave) toward the next at approximately 1.1050.
On that situation, here is the strategy you can follow :
- Open long at the current price (approx. 1.09620)
- Stop @ 1.0925 (below the first support, to avoid usual market noise)
- Target @ 1.1030 (below the to make sure you get executed when the scenario happens)
Reward / Risk = 1.84
Feel free to leave your view about EURUSD in 4h.