EURUSD is in a TREND lower. These moves typically have counter moves when positioning gets to be extreme. We suspect we are at that juncture, where a “short squeeze” may take the cross to the limits of the trend and test it.

The STOP is set, now we map out what possible targets we may see. I have HORIZONTAL dashed line at a possible target for this counter-trend move.

We will continue to monitor the chart.

Comparing the last COUNTER TREND RALLY