In December the EUR/USD pierced the 61.8% ambush short in December and overall trend continued downward. On the daily chart we pierced the 50% but not the 61.8% from the move down from ambush short in December. ADX indicates a slowing trend. There’s still a lot of resistance as in the hourly chart above. We are at price level indicated in yellow (previous S/R), already bounced off 200 EMA days ago and also have resistance from both 61.8% Fibonacci Fan from move down from ambush short in December. A break of this area could be significant to the upside. My bias is to look for ambush shorts to fail on the hourly and 15 after we open.