the EUR/USD is either in a wave D-E of a larger triangle chart pattern or ready for an immediate bearish breakout within the larger downtrend.
The EUR/USD is testing the Fibonacci retracement levels of wave D vs B again. A break below the 100% Fib level confirms a bearish breakout and downtrend whereas a bullish breakout above the resistance (red) trend line could indicate the start of the wave E (orange).
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Good trading, Chris Svorcik