EUR_USD H4 10/5/2012

Friday's High is in the strong resistance zone. The typical "abc" pattern is also there. With Stoch bearish revesal and "Dark Cloud Cover" candlestick pattern, the net trend should be sideways to down in the next few trading hours if not days. Traders should wait for the next 60M oscillator bearish reversal before considering Short positions. I expect a 1.297 test level in the early next week.