So... i will now show why i think that in the next weeks, EUR USD is short.
Look first all the daily chart:
We can note that, the yellow impulse is stopped by the rectangle resistance, that pushed down the price during 2018. Next, we have a complete impulse and it needs to be corrected by a corrective pattern. And... we can observe a divergence in macd at the end of the pattern.
Now look the hour chart:
We can better observe the divergence in macd. So, we have a third wave that is 2.618 of wave 1, a complete motive pattern and this needs to be corrected. I can confirm this correction with the upper resistance.
Conclusion:
I expect weeks of short market
Look first all the daily chart:
We can note that, the yellow impulse is stopped by the rectangle resistance, that pushed down the price during 2018. Next, we have a complete impulse and it needs to be corrected by a corrective pattern. And... we can observe a divergence in macd at the end of the pattern.
Now look the hour chart:
We can better observe the divergence in macd. So, we have a third wave that is 2.618 of wave 1, a complete motive pattern and this needs to be corrected. I can confirm this correction with the upper resistance.
Conclusion:
I expect weeks of short market