On the 4H chart we can see that: 1. EURUSD has been trading in a curved sideways channel 2. EURUSD is playing around the sell zone at 1.1388 3. Price is extremely overbought
Good indications for a bearsih price reversal.
In less than 20 minutes from now we have the ECB Interest Rate Decision. EU countries are being hit by new COVID waves, lots of negativity is built and the market is looking for a way to correct itself.