The CD leg of the Intraday ABCD pattern, forming the current retracement, is slowing down in pace, and now price is hesitating by the 61,8 fib of CD, at 1,0975. A failure of taking out the FOMC spike high and a breaching of 1,0840 level and the Weekly PP, downside risk will considerably increase, since it could also be the forming of a Butterfly Buy, with a D point below current multiyear low. Still, with retail crowd on the net short side, chances are good we will see a test of the 1,1060-80 confluence resistance (Weekly R1, Monthly S1 and H4 SMA 200) If a bounce from here, it could be a good level to play a scalp long after a retest of the 61,8 level (1,0975) for a ride towards the 1,12 with is the ultimate target of the upward retracement, following the ABCD pattern. First warning signs for bulls will be a close below the daily PP at 1,0894. The Completion of the ABCD pattern regardless how it will be completed, will be a sell signal with a minimum target of 1,0915, the 61,8 fib of the whole pattern.