It's mostly just soup on EURUSD, the chart we usually review here, so let's look instead at a different currency pair.
Here is the AUDUSD.
Daily AUDUSD chart
As you can see, a trend line is easily added to the nice, regular bullish trend pattern. AUDUSD has been behaving itself nicely! After regularly watching EURUSD for a long time, you'd be forgiven for forgetting that currency pairs can actually behave and form proper technical patterns.
A slight break has appeared below the orange trend line. Given that this is a daily chart, it should be a fairly reliable signal. Sell below 1.04.
Some fundamental reasons not to sell are the fairly high interest rate paid for carrying the AUDUSD over night, and that the Australian economy continues to do quite well. Also, where else will people put their money?
Still, with such a strong technical signal, it's probably worth placing at least a small sell trade using a pending sell stop order.
