The Euro has been dropping since mid April without any major pullback. The area between 1.16-1.17 has proven to provide support/resistance in the past and could be the area we bounce from. If we get a bounce from this area I will be looking to put on a short term long trade and target the daily 0.382 Fibonacci retracement which will probably also line up with the daily 50ema. I will then look to get in short for the longer term.