The 4H EUR/USD chart shows a market that first broke below a rising channel then tested a broken (larger) declining channel resistance twice as support and bounced off of it to cross the 200 4H simple moving average. This is confirming the breakout and suggests further correction to the upside. In the 4H chart, the next resistance pivots can  be seen at 1.3080, then 1.32. From the perspective of the daily chart. We also have a pivot at 1.3150 ( Sept 2011 low).  If the market respects this pivot and dips, we are still very much in a bearish mode, especially seeing that the RSI reading in the daily chart ... (full story)