On a 4-hour chart, the EUR/USD currency pair had formed the Shooting Star candlestick, which indicates the bearish signal.
This candlestick formed on the upper trend. However, the bears started to increase their influence near January 2010 high and a rollback took place.
Presently, the lower limit of the uptrend is tested.
The breach of Fibonacci correctional level 23.6 and support level of 1.3777 will mean that the uprising trend is broken through and confirm this viewpoint.
In this case, the downside movement to 1.3382, where Fibonacci correctional level is set, should be expected.
On a daily chart, the combination of candlesticks Dark Cloud Cover confirms the downside movement.
On the other hand, if the resistance level of 1.4157 is breached then short positions should be closed, as it will lead to new annual highs.
