On the daily, from the most recent swing high to swing low, price was rejected at the following Fibonacci zones: .618, .5, and .382.
Friday’s close also coincides with a in time. The 17th is the beginning of a phase, which signals sentiment over the next 2 weeks. This is especially true if the instrument is near market highs, which it is.
Because we have been rejected at the 1.2577 zone, which is THE most important price level on the EURUSD chart, we should expect a retracement down to the 1.1689 zone. Of course, this would happen over short period of time.
4 lots added short @ 1.2415