has the euro completed a correction?
The basic scenario did not assume such an impressive correction of the euro. But given the high level of correlation between the euro and US indices, such a movement could be expected. At the moment, the Price has approached the previously marked red zone. We are witnessing the manipulation of highs. with formations of 3 types of price and volume divergence at once. Classic 6h divergence + hidden bearish 1d divergence. There is also a divergence of volumes. What points us to a corrective type of movement. The price approached an important level of sellers. We can notice that trend liquidity was not worked out. What is an additional factor to further price movement. We suggest that you carefully observe the marked white level. There is a high probability of a price reversal around it. As mentioned earlier, the euro has a high degree of correlation with the indices (SPX), and in general, the picture tells us that the downtrend continues, despite positive expectations for action Fed. The current movement within the ascending channel may signal to us that retail traders are intentionally brought into positions in order to further move down the trend. Be careful. This feature is good for finding short positions.
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