Trend is down in EUR/USD currency pair, 4 hours time frame. As I have suggested past week during my daily Live trading room session, market is printing a Elliott wave ending diagonal pattern. So, all those Forex traders who have followed the analysis and took a sell trade have made the right decision as the price has moved down. Strong key resistance level is present at 1.0897 price level.
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In my judgment, market is now in the process to complete a possible bottoming pattern and price is most likely going to break out of converging diagonal pattern in next coming trading days.
Current price action offers a possible buy trading chance to join an upcoming bullish leg. However; if price of EUR/USD currency pair just keep falling down then I might like to stay out of the market and re-examine the price chart of EUR/USD currency pair.