According to the chart, the price has reached a very strong selling point that has been tested several times and has not surpassed the level so far.
The recent candles on H4 also support the idea.
The long term trend is also bearish.
Fundamentally, there is nothing so special that can wake up the EU economy at least for now. So i suggest that price has more opportunity to go lower, as a continuity to bearish trend, or just to consolidate.
The opportunity is more confirmed and less risky when the price has reached the strong resistance level.
Trading Entry: 0.7370
S/L: 50-100 pips.
T/P: 0.7270 (S1, 100pips), 0.7200 (S2, 170pips), and after breaking this S2, T/P may considerably go much lower (which i am thinking about the position so far for next week)
The recent candles on H4 also support the idea.
The long term trend is also bearish.
Fundamentally, there is nothing so special that can wake up the EU economy at least for now. So i suggest that price has more opportunity to go lower, as a continuity to bearish trend, or just to consolidate.
The opportunity is more confirmed and less risky when the price has reached the strong resistance level.
Trading Entry: 0.7370
S/L: 50-100 pips.
T/P: 0.7270 (S1, 100pips), 0.7200 (S2, 170pips), and after breaking this S2, T/P may considerably go much lower (which i am thinking about the position so far for next week)