Inside technicals and chart patterns by 
The 15 minute EUR/USD has rallied from 1.4807 and is trading just below the 1.4900 level. So the obvious question is: Will it continue to rally through this next major psychological level? The answer to that lies in the way short term psychology is currently behaving. The Continuation Down Channel that formed on the 15 minute time frame has broken up higher though downtrend line resistance. The Initial Trend reading (T) shows that current market cycle is sideways but this also means that the prior trend lower is taking a break, for now. This move up through resistance does represent a trend break but the 1.4900 will dictate how much higher buyers can take the EUR/USD.
Another way of identifying resistance and perhaps a short entry is the Three Point Retracement that has formed on the 15 minute chart as well. The rally to C represents a 0.618 to 0.786 correction of the AB leg. Since the market is sideways and also trading under 1.4900 keep an eye on the area between C and the A high at 1.4898 as this is a sell zone.
Both chart were created with Autochartist Chart Pattern and Fibonacci Pattern software.