(Nice candle details over the last 36 hours.) Flag formation: a small detail, went in from the top: out the bottom.
I might be wrong about all this bit but this is all very repeatable, on daily scale charts, e.g EURJPY
The obvious Mod Schiff Fork, working nicely, hanging in the upper channels.
But I would suggest perhaps what it has just done is rather different. Went out for a few hours, said to myself what I want to see, is a second spike conforming to the presence of an Andrews, and there it is.
The implication of, obviously the ML return, but also the potential tilt / trend shift, is quite large, to me the latter being absolutely the greater. (see also Euro/Indices Correlation). The base of the forks shifting like the hand of an old automated clock.
That this trend has precedence, and is subtly in evidence, sure. Maybe later the EURUSD daily, and Euro Index, that sitting there in the background while the Euro/Equities ride high are subtle but very clear notes to a descent.
(PS. The Mod Schiff ML notation is in the wrong place, oops. Should be near the line above @ approx. 1.343)
Note: the NFP figures are out end of week. Trade well.