Eur/Usd Pattern and Price: The Euro to move higher

The Euro has likely reached a low that could last for days or even weeks. Price in the larger timeframe appears to have completed W.A of a potential ABC correction off the 15 July high, which is consonant with the probable completion of W.5 in the smaller timeframe.

Multiple-Timeframe Momentum: Bullish

Bullish reversals on the weekly, daily, and 240-minute stochastic indicate that the bias has shifted from bearish to bullish and will remain so for the next several days or even weeks.

Implications: The Euro has found a bottom and may easily move higher

Multiple-timeframe confluence of bullish pattern, price, and momentum suggests that, following a break of 1.4908, price should retrace 50-62% of the decline from 15 July to 26 August.

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