Today's Support and Resistance Levels:

S1: 1.5619               R1: 1.5693

S2: 1.5575               R2: 1.5754

S3: 1.5549               R3: 1.5790

Technical Overview: 

The red wave iv rally has extended, but there should be no more room to the upside from here. Now we are be looking for a break below 1.5619, as the first indication that red wave iv is over and renewed downside pressure is building. A break below 1.5575 confirms that the end of red wave iv was seen and it calls for a continuation towards 1.5364 with the ideal target set at 1.5300.
However, if we break above 1.5693 we have an overlap between red wave i and red wave iv, which is not allowed under the Elliott wave Principle. The overlap will indicate that an important low is already in place and a continuation higher to 1.5836 should be seen

Trading Recommendation: 

You should be short EUR from 1.5615. Move stop down to 1.5700. If you are not short EUR already you should sell here at 1.5639 with a low risk stop at 1.5700. Take profit should be placed at 1.5325.