The EUR/USD is very likely in a bearish continuation scenario after the FOMC ended QE. The 4H chart shows 2 broken flag patterns and a head and shoulders. the H&S in this case is a bearish continuation pattern. The head represents a failed attempt to build a bullish trend. The right shoulder confirms that bears are still in charge.EUR/USD 4H Chart 10/30(click to enlarge) Now, if price can pull back, traders who believe EUR/USD is bearish will likely consider fading the rally. We should see resistance at or below 1.27. Let's say we play for an entry at 1.27 and get one around 1.2680. A break above 1.2770 would clear the right shoulder, so let's say our stop is at 1.2785. This is a risk of 105 pips. The potential target is the 1.25 low on the year, but we know there is further downside risk. For now, let's see what the conservative reward to risk is. The reward would be 185 pips. this nets a R:R of 185:105, which is 1.76:1. Now, this might not seem that attractive, but as a conservative assessment, this R:R is decent. We know there is risk of further downside because the prevailing downtrend is intact.