The EURUSD has rallied for several sessions and formed a rising wedge formation while the most recent price action formed a bump and run formation which is soon to be reversed as the rise is not sustainable. The break-down should be as violent as the advance was.
MACD has showed strong momentum, but ran out of steam as it topped out and could not confirm the latest advance. It does remain positive which makes this trade more risky. RSI has indicated a negative divergence as well as an overbought condition after it already broke down from its extreme overbought levels.
I recommend taking initial short positions around the 1.2560 level and add to those positions at 1.2600. Place your take profit levels below 1.2480 or ride it down to 1.2350.