There' a "V-Top" pattern, so the pair is likely going to test the closest support at 1.3996 - 1.3979. Meanwhile, if a pullback...
EUR/USD: triangle in wave [B]
There's a possible triangle in wave [B], so the price is likely going to continue rising towards the upper side of this pattern. If a pullback from this line happens, there'll be an opportunity to have the beginning of wave [C].
As we can see on the daily chart, there's a developing impulse in wave C of (E). The main bullish target is +1/8 MM Level, which could be a departure point for an impulse wave. The main bearish target is 6/8 MM Level.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.