Euro chart shows bears are back ahead of Fed. Markets don’t expect Fed to hike rates, but still there is fear that Fed may surprise with its hawkish stance. and if chart is to be believed Fed may actually come out hawkish..
Euro’s failure at rising trend line resistance if followed by a daily closing below 1.1045 (rising trend line) would mean bears have regained control
Bearish exhaustion is seen only in case of a daily closing above 1.1218 (Mar 10 high).