EURUSD Pullback Favored into 1.2030/50

The EURUSD rally consists of 5 waves so expectations are for a drop and then another leg higher. My ‘guess’ is that a prolonged range is underway from the January high. Markets oscillate between trending and ranging periods and EURUSD has been trending higher since March 2020. A reset of sorts is needed in the form of a range. For now, pay attention to 1.2030/50 for support. Visit scandinavianmarkets.com/news/ for more!