Retracement to 1.16500 required before SHORT entry! Target: 1.15EURUSD is currently in downtrend! However 1.15000 acts as a strong monthly support. So based on the monthly pivot points its best to wait for slight retracement to 1.165000 area for better risk to reward ratio. Monthly EMA was also pierced and candle closed below it, this further eliminates the hurdle of monthly support and opens the path to 1.15000 area.
i shall update the trade criteria once and if the price retarces for a better 1:1 RR.
