[Short Term] EURUSD Short Possibility...Resistance Pressure!!!

Lets look into EURUSD in a monthly chart point of view. We can EURUSD obeyed the monthly trend resistance line (Red Line) closely but recently we saw a possible breakout to this level. From an elliot wave point of view, we saw a nice wave 3 completing and starts to see bearish signs after a long bull which could signal to us wave 4 could possibly form soon. Definitely, having said that EURUSD could be a possible fakeout from the monthly trend resistance level which is a rather string resistance level for EURUSD to breakthrough it yet. Minimally, with a strong resistance level @1.1728, I see a potential BEARISH opportunity for EURUSD to retest the broken monthly trend line if it will want to soar higher up. Of which, this will form our wave 5 (our final wave).

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