EurUsd can drop to 1.16 in medium term

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After the recent rise from 1.17 to 1.22, bulls lost control and the single currency is trading under 1.21 again.
In my opinion, a new leg down is about to happen and rallies above 1.21 should be sold
A daily close above the recent high would negate this scenario and swing traders can have 1.16 as a target