EURUSD second leg down after stop-hunt above 1.2200

31 Jan 2021

After a downtrend in the first half of January and a range-pullback I would suggest that a stop-hunt above 1.2200 (perfect place to limit sell) is in the making before entering a second leg to the downside, with a first target below this late range in the 1.2020 area, then a trend line retest and after that at least a second target in the 1.1970-ish or even lower, first as a test of the breakout or even the previous range POC level.