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EUR/USD: shooting star under the resistance

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EUR/USD at H4 interval; source: TMS Direct
The shooting star pattern created at H4 chart below 1.0780 (61.8 pct retracement) points to the higher probability of creating a downward correction. This scenario is supported by sell signal of the stochastic oscillator. Decline to 1.07 i.a. 19th Aprils low is a safe bet. Breaching above 1.0780 would open door to 1.0800/0810 i.a. 78.6 pct retracement and long-term downward trend line.
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