This is the eurusd hourly chart and even if the time frame is so small, it should give us a nice reason for going both short and long.

The first step is to short the pair from current levels all the way to making a move below the 1.0518 but the take profit should be a couple of pips higher, just to avoid a fake move. Wave c in a triangle should be a corrective one, so look for a zigzag or a zigzag family pattern to come so pretty powerful downside momentum.

It is hard to believe that once down there market is not going to break the previous lows in the 1.0460 area, but we want to go long in there with a stop into the 1.02 and a take profit all the way back to 1.13.

I know it’s a long shot, but we should bear in mind that this pair is stretching almost to parity from the 1.40 level so some sort or correction is needed.

I would say the correction to the upside would come after this triangle in green is going to be completed, and this could take some time.

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