EU is in a down trend.
Chart below:
On the Daily chart price has pulled back to the 61.8% Fibonacci level.
Chart below:
Price has now found resistance at 1.3540.
However for the time being price is supported by the trend line shown in the chart below.
Chart below:
Should price break through the trend line line I will be looking for a short entry on a pull back to this level.
I will update again with the entry levels, stop loss and targets when the price has shown its true direction.
Have a great day!!
Mad Dog.
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