I believe that the 30-day fed fund rate will determine any potential rate increases to come, and that the rates should go flat again in the future. We had flat bottoms and flat tops each time before rates reversed. Any flat bottom which represents a rate freeze for about a year or so preceded any chart rise. A rise in the charts represents that lower rates are coming. This Wednesday another announcement is due so this is when this chart will move.
The Euro Dollar looks just like this chart except the pattern is more free flowing. The commercial traders positions are net long/short neutral, with the 30-day rates but that can change fairly quickly.
The chart is about as interesting as watching paint dry so until a flat bottom shows up, rates could keep going up.