Possible short on
EURUSD
Confluences
Price has been in a steady downtrend all week.
Price has returned to an area that was previously used as support, looking to see if it will now use it as resistance.
Looks like price may be rejecting from a possible trendline.
Setup
If price shows some rejection from zone EG closes below the zone on the first candle to touch, will enter a short.
SL
Around 1.08239, just above the range that formed before BOS.
TP
1.07636, the swing low if it allows a RR of 1.5 otherwise I will shoot for swing low and leave 30% as a runner over the weekend.
Notes
Fed speech in 3 hours, only going to enter 0.25% instead of usual 1%. Trade mainly to try and catch a runner to leave for next week.