Short

EURUSD bulls might be poised to test 1.1950 handle ?

EURUSD bears are back in control after breaking below 1.1750 initial support, lower degree Wave 1. Since then, it has been carving a corrective rally to terminate lower degree Wave 2. The most probable wave count could be of a 3-3-5 flat corrective structure, which might print above 1.1914, before reversing sharply lower again. Alternately, if Wave 2 is already in place, bears will push below 1.1750 from here. We still do not rule out a possibility for a final push through 1.1920/50 mark before reversing lower again. Either way, EURUSD remains a sell on rallies candidate.

Short against 1.2010, target is open.

Good luck!

harshjapee

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