Yesterday, the EUR/USD was dropped down from about 70 pips in about 10 minutes, This creates a new and fresh supply above, which is also a Quasimodo level pattern – after a few higher -lows, the price creates a new lower-low with one sharp move down. That supply is a great level for sell position and the target will be the demand below which is also a great level for buy position. Both levels are relevant for day trading.