EURUSD has begin recovering slighting since the aggressive selling that continued all last week. Price has been in a strong downtrend for a number of weeks so we are looking for price exhaustion and pullback to key resistance so we can find opportunities to get short with the overall bearish trend. I will be watching closely over the coming week to see if 1)price reaches near term resistance, 2)a price action sell signal forms such as a bearish pin bar, bearish engulfing bar, inside bar, etc. 3) if price breaks below the formed pattern to then give me the confirmation signal I need to enter short. Remember that we don't want to gbe picking up pennies in front of a steam roller by going long in very bearish markets. We are looking for setups with the highest probability of success which in bearish markets like this are short setups.
