Psych Levels, Pivots, and Trendlines - R

I've been asked to revive an old thread dealing with pivots, psychology, and trend lines. (I probably should have put the lie in there too)

Not sure why...only a few people have read the first one.

Let’s take a look at EURUSD on the 4-hour chart.

This is a naked chart, just a tiff of our last down move and a trendline.

Does the euro have enough energy to move towards the 50 level? (Close to the strong psychological level of 0.5800.)

I guess so.

However...if it does...does it have enough energy to break through the three barriers that are forming a strong bearish confluence?

There's no way...unless NFP portrays it as scarier than estimated.

What are they:

1).5800 level. Anything ending in 00 is the most important mental level.
2) Current downside %50 fib level.
3) Trendline from recent highs

If these three levels are close to each other, the confluence (I like this term) of these three levels will seriously stop the bulls.

Ahead of the European trading session, I will post possible trade setups based on this trading method.