I expect a brieft retracement, if we were to move above the last daily high, crossing the recent FOMC minutes release Key Level, and go to test the low resistance levels above, and eventually test the top FOMC key levels if said resistances fail to hold.
It's possible to go long above the last daily high using a tight stop, and closing and flipping short when we approach the overhead resistance.
I outlined two potential paths EURUSD might follow, and in both cases, I'm expecting monthly and quarterly downtrend continuation as we break all FOMC support levels on the way down.
Check related ideas for my previous charts covering this pair, and also check the EURCHF posted by my friend Tom Killick, might be a nice pair to add to your portfolio to profit from this expected Euro meltdown that I forecast here.
Daily, weekly and monthly levels in one chart.
We might bounce higher here, selling rallies is ok, but you could also go long above a high before selling.
I'll update it as we move forward, first target is 1.11281, target #2: 1.17136 (not confirmed yet)