Using the Wyckoff logic we seem to be in a downward sloping Accumulation Trading Range (TR). Volume has declined since the Selling Climax (SC), which seems to be due to the lack of interest in buying the USD which had been driving the EURUSD down. We see a potential spring and test in Phase C and am now looking for the markup in Phase D to start. Currently, there is some effort in pushing the price up, with little response. Once all the supply has been absorbed we could see the start of the markup.
