The top chart shows the EUR.USD over its lifetime, i.e., 1994 to today. I have drawn a median (green) band that encompasses the normal range for the security, and three main Channels that show its great down-trends and up-trends. 2015, emerging from a down-channel into an orange-tinted up-channel, I have encircled its recent weeks in a blue-tinted disk and depict this area in the lower chart.
Within the longer orange-tinted up-channel depicted in the top chart, I show it, in the last three months moving in a down-channel (tinted red). Having swung in the last week to the top of this down-channel, it is now ready to swing down again. So, the current wager is that it will swing down over the next few days