EURUSD resumes wave c towards 1.2040/50

Mar 22, 2021

EURUSD has carved a series of lower degree Waves i and ii after printing highs at 1.2242 levels. Preferred count suggests EURO is carving a lower degree wave ii within Wave (iii) of Wave 3. If the above structure is correct, prices would stay below 1.2113 and find resistance around 1.2000/30 zone. Alternately count suggests that EURUSD might be retracing the entire drop between 1.2242 and 1.1835 respectively. Either way, the structure continues to remain bearish until 1.2350 stays intact.