The Euro against the dollar seems quite interesting at the moment, after the long rally up I labeled it as (1) on the primary degree and recently we saw a shallow drop that looks to be corrective I labeled it (2) on the primary degree. It’s clear that wave (2) seems more corrective than impulse pattern. The wave (2) on the primary degree retraced about 78.6 Fibonacci, the most important thing is that our wave (C) on the intermediate degree is an expanding ending diagonal pattern. Diagonal patterns often tell us the trend has ended and we will see fast price action.