Upper channel border stopped the move upward last time...hopefully the test once again (or not) will bounce again and then we are waiting for the move down...
On the daily chart we see a long term descending channel within which there is a smaller ascending channel. In this moment we can either go directly to the touching area of those channels (around 1.23 ) and then move down or move first down to twards the lower border of the smaller channel and then up.
If the upper channel border which we are close to now (approximately 9.95- 10.00) is not crossed then a move down is to be expected. Moreover 10.00 is a psychological barrier. Even though I also take into account the possibility that the price will get to 10.20 for a while and then sharp move back will take place. Good luck!
