EURUSD needs to break below 1.1700 to confirm a top is in place

2020年8月6日

EURUSD prints marginally through 1.1915 before reversing lower again. The currency trades around 1.1840/45 levels, and could be ready to push further below 1.1700 mark. The above price action would also confirm a meaningful top in place at 1.1915 levels. EURUSD has been carving an expanded flat corrective structure at a larger degree, which seems to be complete around 1.1915 today. If not, upside remains limited from here. EURUSD can be expected to turn lower towards 1.1167 levels at least, which is previous Wave 4 termination.

Remain short, stop @ 1.1960, target is open.

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