This chart shows a revision on the Euro-US Dollar in the 4 hour timeframe. The analysis is based in market structure rather than the Fib presented. As you may see, there was a strong bullish tendency since the beggining of March (1) which dropped down around 1.09008 . Afterwards, the market tried to imitate the same upwards movement, but with many corrections that could lead to a strong bearish movement (2).