Important €$ chart

Here is a simple multiple fork 60 min chart of €$.
Notice that only one RL is drawn( extended beyond the LMLP). It comes from the most basic U-S fork that can be drawn in this years rally from the low below 1.20 as P0 to the next pivots P3 & p4. This fork has one RL drawn. It is shown here in E-Signal as red brown line.
Here is a relevant link
If price fails to get above 1.3500 and thus to the pink CL then we are surely at the top of the current Euro cycle. If not and over the next few days a different scenario pans out then i suggest we may see Euro$ up to the high 1.30's ( 1.37?)and it could mean that the $ will weaken. I still however favour the USD.


Possible trade set up ( below)5.14 Central Euro Time
Watch for a break either up or down ( below two views of the same scenario with different ML's & RL's) Normally - but not always- breakout occurs in direction from which market came from-in this case down. Yesterday there was an identical opportunity as the Euro went up.