Euro Dollar is forming a correction

Euro Dollar Nov 29

EUR/USD trading talks November 29

Last time we discussed that the Euro/Dollar could fall within the current uptrend on the four-hour chart, and I also suggested that a correction might be forming.
At this stage, the correction really forms a triangular area, within which fluctuations occur. Moreover, this pattern can be expanded to a rectangular area in case of a decline below 1.03300 and thus form a horizontal corrective trend with support at 1.02740 or below 1.02230. Level 1.03460 ЕМА 200 on the hourly chart will be a marker level and a preliminary sell signal. This signal is likely to be confirmed by the MACD crossing the signal line on the hourly timeframe.
But further, I would also like to consider a more interesting but not yet confirmed variant of the correction formation with a subsequent rise above the daily EMA 200, to a key level of 1.04870. It has already been reached twice within this correction and is a key and marker level for further growth to 1.0600 – 1.0630. Growth inside the triangular correction can be signaled by another breakout of the daily EMA 200.
I also want to pay attention to the daily MACD, which now indicates a weak sell signal. This could mean a decline in the long term. In addition, the MACD divergence on the 4-hour chart, where the correction diverges from the descending MACD, is hinting at a fall.

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