But there is an amazing confluence of non-correlated techniques that says it's at or near time for a short trade:
1) Oscillators (not shown here) on almost all charts from weekly down to 30-MIN have reached overbought
2) 6-HR chart - Fib projection/retracement levels from several recent swings line up perfectly with resistance
3) - and 100 resistance meeting at previous congestion level (see Tim West's excellent "Time at Mode" analysis at https://www.tradingview.com/chart/EURUSD...)
4) If you like to trade "reversion-to-the-mean" setups, you have one already signalling to go short to the 50 - 300+ pips would work for me. Unless price moves enough to negate that setup, I think it looks like a high probability opportunity.
I thought we'd reached the end of the rally and I was all set to go short around 1.1220 - but my indicators weren't quite in synch with the setup, so I'm waiting for a slight new high to stop out the early short entries. I could be wrong about that, but I have a tendency to jump early, so I'm trying to develop a little patience and wait for things to line up better. I'm sure several of us have been waiting for over a month for these levels to be reached...
If you're currently long, you might want to pull in your horns a bit to take advantage of what looks to be a really solid short. At least be aware of the potential for a turn down and plan accordingly.