The EUR/USD has seen a major bearish movement today as the pair shot down 800pips plus and closed inside the channel. The pair closed at 50 on the RSI period 14. It broke the period 5 (red) SMA but is above the period 100 (brown) and 60 (black) SMA, the pair looks like it will test the period 100 SMA as further bearish movement inside the channel is expected of the pair
I’m actually able to read your chart. My neck hurts just a little from it. But that’s okay, I’ll take one for the team. 
Anytime price pulls out of a channel and then goes back in, there is a good chance it will continue down. But in this case I’m not so sure. I think we will have a better idea of what it is going to do after the London session. It will either break to the downside or maybe just pause for a few bars, It’s really hard to tell at this point. If you have a position open on it, I would be watching a bit closer than usual.
Lol. That was really cumbersome! The word “looks like” in your analysis has destroyed all your effort.