EURUSD

This grinding around is certainly using up time and that is needed to force the momentum nesting in the 4hr chart. We are starting to get into the right zone for some decisions to be made by the market as the daily study is getting into the oversold zone too, in the second chart. Now, it has to be remembered that these 'nests' can grind out for a lot longer in distance than margins can cope with, but timing wise, it does provide focus to any upside changes in price action. I have simplified the counts on the charts to show a possible 'D' leg of a diagonal for the current down-leg which would fit well if we get a new high in due course. I am not looking for a trend change yet, but if we get a new low, I will be.