EUR / USD

Good Morning

I have have been watching this chart for the last 19 months and just can't wrap my head around the size of the gap on a Weekly chart.
The overall formation is corrective, but according to what I look at there seems to now be every chance that correction will look to do a 99% retracement.
This view is based on the last part of the formation as seen in the blue square as not being a bottom formation and although it could trade higher I would look to sell a rally in the Euro, with a stop loss over $1.1410 and look for the gap to close.
At current levels, this bet does not have a great RR, that why a move to the $1.1250 and over would be an awesome place to sell.

If we miss that opportunity we will have to wait patiently to buy the Euro as I feel there a much larger Euro Bull at play once the correction is over.

This is one to keep on the radar over the next 17 months!

I hope you are all having a cracking day.

Giancarlo