The EURUSD market completed the form of a classic Head and Shoulder pattern last week. The market is now retracing back to its previous price, however the price has nearly retraced back to a key support line (Red Line). This key support line has been met numerous times as seen from the chart.
If you look at the chart from a daily view, you will see the weekly (Purple lines) - it is clear EURUSD is trending downwards. Once the price hits the key support line, that area is also a . When a price reaches a within a downtrend, it then follows to drop down to the .
This setup has a target of 100 pips - if entered at . any thoughts?