The market seems poised to SELL EUR. Today’s RISK OFF tone can carry on for another day or two and drop the EURUSD cross to 1.1600-1.1630.
At that level, most participants will probably get very BULLISH USD.
That is exactly when we will look to BUY EURUSD as it may have run the FULL CYCLE.
We have no orders, but the RISK REWARD will be conducive to being LONG EUR with a stop below 1.1590.
We will revisit as we get closer.