EURUSD is wave 3 already over?
EURUSD has been rejected from the strong upside resistance of 1.2200 and is pulling back in what could be a 4th wave pullback in the flag. On a daily chart, you can see that it is breaking below the rising wedge support of 1.966 which could be on a retest now before more downside. If we don’t see a substantial break above 1.1960 we could head deeper lower to 1.1500-1.1600 zone. This will certainly not change the upside reversal dynamic substantially.
Note – Look for the short trade entries with the stop loss above 1.19600
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