1) EURUSD is trading in wave C of a
2) EURUSD is trading in either wave b of 3 or wave 4 of an (ED).
Let us look at both these possibilities in detail :
If EURUSD is indeed trading in a then the best possible trade will be to buy closer to 1.1600/1.1550 looking for minimum target of 1.2250 which can extend till 1.2650.Pink lines shows the possible chart path in case of a .
If EURUSD is forming an then it should not trade below 1.1717 before hitting a high above 1.2095. EURUSD should trade inside the orange shown in the chart if wave 3 of ED is already complete, if EURUSD is forming wave b of 3 then we will have to redraw the .If EURUSD falls below 1.1717 before 1.2095 then this possibility can be ignored and the flat pattern will be the only structure that will be valid .Blue lines shows the possible chart path in case of ED.
Please note that these are views based on the my limited capabilities as an EW analyst and there are multiple ways to analyse the markets . Kindly do your own analysis before taking any decisions.
Good Luck Traders!!!