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EUR/USD 4H SHORT

Short
FX:EURUSD   Euro / U.S. Dollar
EUR/USD May fall 50-100 pips
Price has broken out of the ascending channel and has formed a new downwards trend. Support at 1.0947. The 38% level on the fib has already been crossed, if the current trend continues, price is likely to go past this point.

Intraday - 4H
Trade: Sell
Entry 1.1005
Sell or Below: 1.1042
Target TP: 1.0947 & 1.0888
Pivot and Support 1.0947.

Alternative scenario:

Trade: Buy
Bur or Above: 1.1042
Target TP: 1.1090 & 1.1140