EurUsd : Right Shoulder

It's moment of truth for the rising trendline which has held for longer than 1 month and has bounced 2 times. There is a possibility for some ranged price action which would form a right shoulder in a head and shoulder pattern. The most important thing is the trendline here. If it breaks price will go lower fast. As to how low price will go we have to remember the alternatives. A bigger wave X ( above 1.4535 but below 1.4939 ) or a wave Z on the daily count ( above 1.4939 ).