EUR/USD pending buying opportunity
We have noticed that the market has been making higher highs and lows as well recently. On D1 we have noticed that the market is in the Fib zone, however, waiting for a hammer to form may be a good idea before taking a trade. Furthermore, the market is also oversold, and that may be another thing worth considering. Lastly, on H4 the market seems to have reached a trendline which may act as support. Another thing worth considering is that the MACD is converging on smaller timeframes H1 etc, this then shows that we have less and less traders committed in pushing the prices further downwards (Momentum dying out).