EURUSD carving potential Wave 2 around 1.1850/60 ?

EURUSD might have carved a potential top around 1.1909 levels last Friday. As a follow through, it had dropped to 1.1700 before pulling back. As we prepare to publish this intraday update, EURUSD trades around fibonacci 0.786 of its recent drop. A bearish reversal remains high probability as long as EURUSD holds below 1.1909 highs. A potential Wave 3 lower would push towards 1.1350 mark, going forward. A break below 1.1167 support will confirm that EURUSD has turned lower over the long term and that a meaningful top is in place at 1.1909 already.

Remain short, stop @ 1.1960, target @ 1.1350 and 1.1167.

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