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The 60 minute EUR/USD has formed a Three Point Retracement as an sell-off from A to B has retraced to the C point and set up a short set up. This is one of my favorite Fibo patterns. The C point represents a high point between the 61.8% to 78.6% Fibonacci Retracement levels. As long as prices do not exceed the high of A, the area between the 0.618 and A will be an opportunity to short intro the correction. The support levels below C are the Fibonacci Retracement support levels that could be potential downside targets. Pay particularly close attention to the .0618 to 0.786 levels are this area has already been a factor today and is near term support.
This chart was created with Autochartist Fibonacci Pattern software.