EUR/USD: 1-hour

EUR/USD: 1-hour Chart

Say it ain't so, but I think I see a downward channel on EUR/USD yo! If you're looking to sell the pair, perhaps waiting for a pull back between the 38.2% and 50% Fibonacci levels to see if the top of the channel holds would be a good idea. Be a good idea to be on your toes for reversal candlesticks to materialize around the area. Who knows, there may still be enough bulls in the market to push the pair back up to 1.2300.