1. Price failed to break daily resistance around 1.47600-1.48600. It made a fake breakout and managed to push back again to the downside.
2. Yesterday's candle signals the power that the sellers currently have, confirming entry to the downside.
3. The power of yesterday's candle managed to break again the weekly (switch to to observe it better). This is the 3rd time that it breaks this , hopefully this time it could push further to the downside, breaking it definitely.
Fundamentally I see a weak euro due to recent weakness showed by Germany's manufacturing indicators, UK uncertainty, Italy problems and the possibility of lowering more interest rates.
Take profit target: next weekly support around 1.44750
Stop loss: around 1.48460 should be enough to give it some space in case the trade doesn't turn in our favour at the beginning