Euro Bullish Potential Outweighs Downside Risk

[B]Commentary:[/B] The decline from 1.3838 is either large wave C to complete an A-B-C correction, wave 3 in a bearish sequence that began at 1.3852, or larger wave A to begin a larger correction from 1.3852. A rally above 1.3546 would make the advance from 1.3360 impulsive (5 waves) and favor additional gains.

A rally through 1.3608 would eliminate the idea that wave 3 down unfolded from 1.3838. At this point, upside potential outweighs downside risk in the near term.

[B]Strategy:[/B] Flat