I expect short term correction to be initiated by the bounce from 628 Fib retracement at the support levels 1.118 until 1.14 area will be retested and one might consider to rejoin long term move.
Correction might be driven by expectation of FED not rising rated in September but rather December
Actually, I am using the simple Moving Average Lines and regular MACD with 12 fast length and 26 slow length.
The MAL helps me to judge the market in the down-trend or up-trend .
The regular-parameter's MACD helps me to find the good positions of building order, sometime reveal a need of correction.
And I usually use Fib and Resistance&Support position line as well.
For instance a AUD/NZD I published yesterday.
And these are my analysis combination.