Euro May Have Established Corrective High

The EURUSD and USDCHF have held their 61.8% retracements of impulses towards US dollar strength. The NZDUSD pattern from its high is also bearish. Patterns suggest that dollar strength will be the next significant move.arallel channel support and the 50 day SMA have held in the EURUSD, which keeps the larger uptrend intact at least for the time being. Still, momentum diverged during the rallies from 1.3747 and 1.4480, which is one reason I feel that the 5th wave labeling (2 different degrees) is correct. With bigger picture bearish implications, I must respect this bearish count. 1.4900/20 is serving as resistance. Coming under 1.4800 would bolster confidence.