Here we have a daily chart
setup of the Euro
against the US Dollar
. The pair is trending in a downtrend so we will be looking for shorts. Confirmation of the downtrend is price currently trending below the 200MA. You can see rejection off of the downtrend-line. At that rejection point you can also see a bearish Evening Star
pattern formation followed by a pullback and rejection off of the resistance zone
. My targets if this trade goes right will be first at support zone
1, then I will take profit and let the rest run to support level
2 if the up-trend line is broken.