As expected, Euro has found support at our Daily Critical Zone around 1.2675 and has rebounded 130 pips and is approaching DR1.
Clearly the trend remains bearish as confirmed by the pivot order. With Monthly Pivot 280 pips from Weekly and another 93 pips to Daily, the cross remains oversold.
Entry will again be difficult to find as further pullback is needed and there is still no resistance trendline to play with.
We do have a clear hotspot today however, with a support trendline that is a little acute, but not too bad. Price action is there right now.
We will look for StP patterns off this line with maybe a comb or church for the short targeting DP or shark/rhino long targeting Weekly Pivot.
Either order needs to be again small stake with DP below a short entry and counter trend for the long.
Have a great trading day
Geoff | Certified SurfingThePips Trader