Should the current diagonal be about to break downwards, we should be seeing topping action on momentum, such as that eclipsed beneath the line of the . Currently momentum is running > level on the weekly frame. More important , I expect the current correction to be a flat in alternation with the past shown on the chart. If that proves a correct assumption, this flat is currently completing, and price will be breaking upwards from the diagonal in an intermediate term up trend.
I will therefore buy each week lower levels to 1.4200 targets initially.
Fundamentally, I recall congress will be looking into raising the debt ceiling coming Feb.