A potential reversal of the downtrend in EUR/USD hourly (see link below to my previous post) did in fact materialize as an attempted 7th wave downwards failed early this morning. That was followed by a strong move to the upside that straddled the upper Bollinger band until EUR/USD pulled back somewhat in the late afternoon hours.
The 50 MA is now angling up. We have thus completed a first wave in the uptrend.