EURUSD: what if......

I posted this study in the weekend report (available to right of main screen), covering the weekly speedline study of the drop from the all time high into the initial 'ABC' at 1.18872. Notwithstanding the obvious negative divergence on the MACD & the falling volume into the 1.3831 high, price is where it is regardless. Where is that......Custers last stand is where, for the short to medium term bears. That cluster of red lines that price is embedded in are the 85.4% speedlines of the whole drop in to 1.20411 with the cream line already being trounced (that being the speedline of the move into 1.18872). The purple lines are acting as guidelines for now, being the retracement speedlines of the move up from 1.18872. Of particular interest is the FLD of the 144 period MA on this weekly chart; the light blue trend line where price sits. It is pretty obvious that prior engagement with price has correlated with the market making a decision. So, be it up or down, from here could see some zip in the price action and a cut to the upside might just be straight to the 61.8% retracement of that ABC drop to 1.8872, at 1.43074. Careful now!!