While many traders are focused on the yellow trend line, there is 1)change of behavior - last low in the trend of the yellow trendline did not reach the support area deep below to the floor before moving back up signaling underlying strength 2)not very well visible channel to the upside on the 4H chart(the blue one) 3) The current wave down is 9 waves old, it has become TOO OBVIOUS. One thing that goes against Long EUR in the 1.115-7 area is the fact that the EUR/USD is in Longer term Downtrend.