Price is currently coming to a resistance trendline in channel lets wait and see whether it will respect it and go down breaking the blue trendline. However if we see a break above the trendline i will definitely wait for a retest so i will not fall for a fake breakout. But for now im in for a short.
blue arrows show that if price breaks and closes below the purple trend line then we could see a possible shorting opportunity. There are the red arrows which shows the 2nd possibile scenario which is the price bouncing off the green support area and moving up.
price is currently at a crucial point where it could bounce up or break below. Price respected the red ascending trend line several times lets wait and see if it will respect again. I have also added in the pink triangle to wait for the clear breakout. Wait for a confirmation on the 4hr chart.
As we already know EU is making a head and shoulders pattern and its currently on its way up for the right shoulder.
Nice and clear ascending channel is being made. Price can respect the trendline and bounce up or it can break and bounce of the support which is at the 61.8 fibonachi.
price is currently at the resistance it is testing the resistance, theres a high probability that price could fall however best to wait for the breakout. If price breaks above i will wait for the break of resistance ad close above.