EUR/USD: get ready for a potential short-term bearish reversal

As it can be observed from the Daily-timeframe graph, the price has reached the upper barrier of the ascending channel that has been neatly highlighted. Since we have been able to witness the price reverse from this zone twice, we are positive about the fact that another bearish reversal - even a short-term one - is possible to expect.

Hence, we will observe the price build-up around the local key zone and await further confirmations before looking into going short and aiming for the region of previous resistance now acting as support aligning with the 61.8% Fibonacci retracement level identified from the recent impulse that is portrayed on the graph.