After yesterday's trend change signal (see link to my previous post below), the EUR/USD continued higher today. We have completed a 5 wave uptrend thus far. Given how far this trend has already gone, the initiation of new long positions is no longer a viable option. At the same time, it is still too early to consider the prospect of a trend reversal, especially as no momentum divergence has been indicated by the MACD line.
Existing long positions can be maintained, but I am watching for further developments.