Now that we've had a confirmation, a rejection from the daily range resistance, we are looking to ride the pair down to the channel support. In order to have a more probable setup with a higher R/R we are waiting for a pullback into our highlighted zone to enter short. From a COT perspective, EURO positions are still in positive territory, yet we are seeing a slight decline in buy holdings from the big banks. This could support a dip in the euro short term.