EURUSD short term target points to 1.1250

17 Tem 2020

EURUSD has pulled back towards 1.1423 which is close to fibonacci 0.618 retracement of the recent drop between 1.1441 and 1.1370 respectively. In the short term, EURUSD might be looking to reverse to 1.1250 mark. Only a break above 1.1450 would nullify the above bearish setup. Furthermore, it also remains possible for EURUSD to have topped out at 1.1450 and could be proceeding lower towards 1.1167 support. It is good to remain bearish from here, looking into the potential risk-reward ratio.

Short now @ 1.1412/20, stop @ 1.14850, target @ 1.1250

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