I will plan all future trades based on this prediction note: things can be different or change depending on the market reactions
This is no trade advice
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Going for the 78,6 retracement
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Hidden bearish divergence on H1 and H4. Reversal expected at 78,6 or 88,6. But on H4 the divergence may be a little higher. This hidden divergence can hide also regular bearish divergence in this case we hit 1,10 first.
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Probable correction down for EU. Can break lower but can also be limited before the next rise to complete 88,6 of the fibo retracement.
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EU will probably hit 88,6 soon and then drop. (first red Arrow on the chartt) It can drop lower but I will not be surprised to see it make a new retest of the 88,6 and even go higher before the next fall. Look back to the previous structure.
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Bearish divergence with macd on H1. Also visible on RSI.
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technically it's like this because it's confirmed on lower timeframe with a little bullish indication.
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Rsi on M5 is also dropping. making bearish divergence. Technically it's telling that we'll see a drop down sooner or later.
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Now several indications are telling that the 88,6 is still possible but it may also drop. And based on H1 and H4 it may suddenly push to 1,10
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Now this is not a place where I should enter because it can finish this cup or it can fall looking to this huge divergence on H1. That will hurt.
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That's exactly what I suspected. The positive inflation affects the European markets. Therefore, I referred to the fact that all downward movements did not work and that all indicators failed. If this will continue, that's the question. This is definitely a firm emotional move, but if it works, it works. Although there are very strong negative indications, the EU market has a high degree of weakness and, in fact, nothing changes globally. The only real change in the EU situation is the emotion and positivism of future strategies, but facts that prove the certainty of the succes of all this do not exist. It's all about blind speculation just as before and ... well actually it works fine. So technically, the EURUSD certainly had to fall, but the excitement clearly has the upper hand and now the EURUSD can rise as I said earlier to 1.13.