It is hard to pick a top, but....
The EURUSD bounced off the underside of a broken trend line at it's lows on the hourly chart today, and then extended above a topside trend line on the way to the session high at 1.21078.
However, that break failed and the subsequent hourly bar stalled against the old trendline (see red numbered circles 5).
Are sellers leaning? Is there some profit-taking sellers?
It could be....
It is hard to pick a top, but failed breaks can be a catalyst for some corrective probing in the opposite direction of the trend. If the trendline is ultimately broken, I would expect the sellers to turn back to buyers on the cautiousness from the trend momentum. However stay below, and we could see some further downside probing with the underside of the broken trend line below as a potential target.
