EURUSD drifts sideways but potential remains towards 1.2050
EURUSD has drifted sideways since last 36 hours but potential remains for a push through 1.2050 at least, before finding resistance again. The currency seems to have either completed its corrective rally at 1.1988 last week or has terminated Wave A of its corrective rally. If the latter turns out to be correct, EURO bulls might extend its rally towards 1.2050/80 levels to terminate Wave C of the proposed A-B-C correction. Bottom line for ears to remain in control is 1.2350 mark.
Remain short against 1.2350, towards 1.1600
Remain short against 1.2350, towards 1.1600
Penafian
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