EURUSD might be preparing to push through 1.2000 handle

Feb 15, 2021

EURUSD seems to be unfolding as an expanded flat corrective structure labelled as alternate count on the 4H chart here. The currency might be unfolding its Alt: C wave towards 1.2200 levels, which is fibonacci 0.618 retracement of the entire drop between 1.2350 and 1.1950 levels respectively. A bearish reaction can be expected around 1.2200 handle for EURO bears to be back in control. Potential remains for a push through 1.1600 at least.

Short against 1.2350, towards 1.1600