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Maybe not the first one to notice this, but here we are, with a triple roof in daily charts: the pair has been trying to push above 1.3000, also a tough support zone back in 2004, without passing trough. In fact take a look at monthly charts, and see what I can see: 1.3000 has always been a huge inflection point, that took the pair several attempts to break, triggering a major trend after that, both up or down. Now, combined with this daily Fibo I add, we can see two key points tothe downside, that could tell us whether this is a correction to regain strength and reattempt again the 1.30, or if we are at the first stages of a reversal: fighting with the 38.2% zone and with several highs and lows, @ 1.1900. Any confirmation under that pair could send the pair back to the lows around 1.1440, that we could consider the neck of this figure, and pretty close to the 61.8% of the rally. If that zone holds, in the medium term the pair will have more chances of testing again the 1.30 zone than of continuing falling. While indicators here are giving signs of bearish continuation, we need to wait and see for a couple of days, to where the par moves in relation of this 1.1900/38.2% Fibonacci zone, to determinate next steps here.
