EURUSD hits 1.1850/60 today. Bears prepare to take control

Oct 21, 2020

EURUSD bulls had been carving the proposed counter trend rally since last few trading sessions. The currency finally manages to hit 1.1850-1.1900 resistance zone today as bears prepare to take control back from here. Wave structure looks like a flat 3-3-5 unfolding since 1.2000 handle and could reach 1.1100/50 levels over the next few weeks. Bottom line, prices should stay below 1.2010, going forward.

Remain short, stop @ 1.2010, target is 1.1100/50

Good luck!