because the 1.04 low was a very important geometric low.... and price reacted very well to it... possibly full reversal going on for EU.... maybe to the 1.35 area.., plus my counter is very very bullish on eu weekly chart the 1.145 high will easily be taken out... think about a short around 1.15431
That's a great long term downtrendline you have drawn in pink. If you show more time, it would be more persuasive. Nice and overbought together with being at a major downtrendline. However, the rally yesterday was pretty strong so there is some carry through momentum into today. Thanks for your chart.