Looking into the weekly chart we can see that there is a strong overall down trend for this pair. As we come into our lower time frames the Daily/ 4hr we have a smaller bullish trend taking place inside of the overall trend. Do too fundamentals which took places yesterday we had a strong down movement in this pair which has bought us back too the bullish trend...
This pair is in an overall downtrend and we may see price re-test the zone i have marked with the grey line to potentially break bearish and make new lows.
Entry - grey line
Stop loss - red line
Take profit - green line
Risk exposure - 1%