EURUSD midway into its corrective rally towards 1.2150

EURUSD might have terminated Wave A around 1.2090, within its corrective rally A-B-C, towards 1.2150 levels.It is expected to dip from here to terminate Wave B before resuming Wave C rally towards 1.2150 mark. Structurally EURUSD is unfolding lower degree wave ii within Wave 3 lower towards 1.1600 levels. If correct, we can witness a sharp reversal lower soon as wave iii of Wave 3 resumes from 1.2140/50 mark. Bottom line for the bearish structure to hold is 1.2350 levels, going forward.

Remain short against 1.2350, towards 1.1600