EURUSD drew two price action patterns on Daily TF - inside bar and pinbar both bouncing off the interim low and in line with existing trend. At lower time frames EW looks incomplete.and assumes one more leg up. This is also supported by look and feel of GU, NU, AU and DXY.
So hard to stay in shorts after such moves. Nevertheless the price did not violate my previous count but completed it. Fundamentals support strong dollar and the last abrupt move can form right shoulder of the H&S pattern. RSI at lower time frames also indicate exhaustion of the move up and on higher time frames more leeway to the downside.
Waiting and learning.
I remain bearish about EURUSD despite it broke long standing resistance formed by two trendlines in the top of the chart. The pattern of price advance looks corrective in the shape of ending diagonals. Usually ending diagonals happen in the terminal move (wave 5 or C) followed by abrupt decline. However before price reverses it is possible that we see a brief spike.