The is signaling downward momentum, but is not very strong at this point. The and MA are have been very close together for some period of time, and there is indecision which proves authenticity of this because we are now in the consolidation period of the .
I will be watching the 1.217 level very closely as we come closer to that level, if we do. I can see the market finding support off of the rising (Pink) and intersection, and possibly breaking to the upside completing the . If we do, we will meet initial resistance at 1.25 and then our next level of resistance at the major downtrend line (Blue). There are a lot of resistance levels that EURUSD may face here in the coming weeks, and I will be looking for a rejection within this region.