EUR / USD is in a down trend.
Price has recently pulled back the 78.6% Fibonacci level on the daily chart.
Price has also formed a double top on the 60 minute chart. A good sign that the market is looking to turn.
Price has made a new low and the Daily chart stochastic has also rolled over in the overbought region.
Daily Chart below:
60 Minute Chart below
Price has broken through the averages and the pivot points and I am looking to enter short on a pull back to the previous support region.
My entry levels and short term chart are below
1st Entry: 1.3035
2nd Entry: 1.3050
Averaged entry: 1.30425
Stop loss: 1.3075
Target: 1.2877 (5%)
Chart below
I will update again if and when the trade is triggered
Best regards
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