In view of weekly price trading south from weekly supply at 1.3295-1.3017 and daily candles rebounding from the above said daily support, medium-term direction is limited.
Our suggestions: Watch for shorts around the underside of the aforementioned H4 channel support today. Building a case for entry here we have a H4 38.2% Fib resistance at 1.3070 and of course weekly price occupying the above said weekly . Now, in light of daily action bouncing from a daily support recently, our team requires a lower timeframe sell signal to short the above said H4 channel line following the retest. This could be in the form of an engulf of demand followed by a retest, a trendline/break retest or simply a collection of well-defined selling wicks seen around the higher-timeframe line.