ABCD completion wouldnt be surprised to see a bounce into 1.16-1.22 range. Also hit 61.8% retracemnet
Agreed on 1.16 potential bounckback - it will be a good entry point for those who count on more weakness in EUR. 1.22 will be quite hard to hit due to a very strong resistance at 1.21 and further upside is very very unlikely in the current economic environment in the Eurozone. This makes 1.16-1.21 an even more attractive entry level for shorters.