The downtrend in EUR/USD hourly that began in the early hours of Mar. 14 has now completed 5 waves. Worth noting is that the wave 5 swing low at 1.2266 corresponded with a momentum divergence on MACD. While it is still too early to look for a trend reversal to the upside, I will be on the look-out for a long set-up should EURUSD move below 1.2266.
