EURUSD Wave 1 now complete at 1.1778 or could push to 1.1754

8 set 2020

EURUSD might have just terminated its impulse drop from 1.2 handle through 1.1778 respectively. It remained shy by 20 pips from 1.1754, its previous Wave 4 termination of a lesser degree. We still cannot rule out the possibility for yet another push lower but probabilities might be turning towards a counter trend rally. An A-B-C counter trend rally could potentially push prices through 1.1930 mark, as highlighted here. Shall update again as counter trend rally gains momentum.

Positional traders hold shorts, stop @ 1.2100, target is open.

Good luck!