EURUSD completed an ending diagonal followed by a sharp bullish impulse A, the pair is currently in a bearish abc(purple) corrective structure where both purple wave a and c have clear 5 waves. Additional confluence is the inverse head and shoulder pattern of which its right shoulder is at 78 fib retracement area. Will be looking for strong bullish candlestick before buying.
Yeah it looks like a diversion point .. though many claim that, it is downward run still. But without an upward movement, it won't go down I want to believe.