Nov. 20th – EURUSD

As for right now, this market has made no progress in either direction leaving both counts still intact. However, the nature of the recovery from the low at 1.0495 appears to be corrective, and that leaves the bottom vulnerable. Breaking that low would imply a much larger decline and it can be taken as a short term sell signal. At the same time, printing above 1.0611 would justify labeling the recovery as a leading Diagonal and it may send prices to at least 1.0653