Price has been on a strong down trend for the past few months. During the last session of trading it closed at a new low since 2009, previous low 1.19270, price has been retracing for the past hour but it seems that its now set to resume the downtrend. With previous support (1.19270 level) turned resistance, the next strong support should be at 1.15469.
Trade Idea
Enter - 1.19177
Stop loss - 1.19530
Profit Target - 1.15469
This is what is on the hourly chart.
Remember trend is your friend.