EURUSD continues to probe 1.2150 and might be successful in pushing through 1.2200 zone before finding resistance. There are 2 high probable wave counts possible from 1.2350 highs. 1. EURUSD has carved an impulse Wave 1 between 1.2350 and 1.2050 and is now working on a complex Wave 2, which might terminate towards 1.2200 in the next few days. 2. The drop from 1.2350 through 1.1950 could be a 3 wave structure Wave A (not labelled). Bulls might be carving a Wave B towards 1.2200/50, before reversing lower towards 1.1600 as Wave C. Either way, EURUSD faces resistance around 1.2200/50 zone.
Remain short against 1.2350, towards 1.1600
Remain short against 1.2350, towards 1.1600