1. bounce of 0.236 fib level which led to price closing with a bearish engulfing candle on friday on the daily timeframe
2. Shooting star has formed on the hourly timeframe
3. Cross of EMA's as well as the SMA about to move above price on the 4 hour time frame
4. sitting below the 50 level on RSI
i like this set up, and with no big fundamentals until Friday...
1. Closed with a Marubozu on Daily Timeframe
2. Bounce of 0.236 fib level on Daily Timeframe
3. Strong Resistance Level at 0.236 Fib level on 4 hour timeframe
4. Downwards Trendline is starting to form on the 4 hour timeframe
5. Cross of EMA on 4 hour timeframe
Plenty of Confluences to the downside, i believe EURUSD is heading straight back down to 1.03850...