it's near the mid line of the pitchfork and is going to complete an impulse 5 waves of elliot so we will have a correction there and as you know min for target of first move of correction is equal to 5 and ABC can correct 61.8 of all the impulse waves
as we can see if price can reach to the top of the channel and complete the ABCD pattern, it will touch the midline of pitchfork too, so we have a very strong resistance there and we can set our short pending orders there.
after touch the strong resistant at 1.4500 and complete a bearish pattern in this area, it's possible for eur to goes back to the past support at 1.1000 so if it can pass 1.2900 support it's possible to go down to 1.1000
so after touch again the top line of the channel and complete ABCD pattern there it can start a move to the bottom line of channel and complete ABCD pattern there. we have a very strong support at the bottom line of channel
there are 2 scenario for this pair, it touched the mid line of pitchfork and complete abcd pattern there, but couldn't start a strong bearish trend to the bottom line so it's possible to touch the mid line again and complete the other ABCD pattern there and then start a downtrend
after touch the bottom line of the channel and react to this area, if it can pass 1.35350 area strongly then we can expect it will touch the top line of channel again, so we can set a buy stop position after this area
after touch the top line of the channel, it can come down to the bottom line and then start an uptrend to the top and maybe pass it. by using fibo time we can see the time that it will become a new pivot at bottom