EU got a lot of traders by surprise. After 5 impulsive waves from 1,03 to 1,21 an ABC correction was expected, to 38,2% or 61,8 Fibonacci retracement.
The ABC is hapenning, probably a 5-3-5. If this pattern happens, we finished the 5 waves down forming A, and a B is developing.
The problem with B is that it can go to a deeper retracement, to levels as high as...
After a impulsive wave, waiting ABC correction to achieve 38,2% and 50% Fibonacci retracement.
At 1.259 (38,2% level) - waiting this pair to go high to complete B wave.
The ideia is wait B wave ends to short to C at 50 or even 61,8%.