The analyst is looking at EURUSD and suggests it will come down to whether it can break below the trend line. He acknowledges it is an odd trend line, but mentions that the recent price action shows that the Euro is bouncing off the trend line. Analyst looks for the most conservative placement possible, in a position where, if the Euro breaks down, there would be no question that the market has officially broken down. The analyst suggests that there are still several hours left and that the Euro could still close above this level today. The analyst states that you are trading a little bit riskier when shorting this now and that there is a need for at least a daily close below the line to have a confirmed breakdown. Should the euro recover, the line will remain intact as support, with resistance at 1.1830. Analyst states that the euro is still very sideways. Mentions that the first signs of a potential reversal are being seen.