The European currency is still in a downward trend despite several attempts to rebound. We are currently seeing a reaction to the support that has kept the price on the same level since yesterday. At the moment, there is a chance for a long position when the price goes down to the local support from the M1, SL interval 7 pips to the low. This position would need to be hedged fairly quickly due to the move against the main trend. In the second image I marked the entry level and possible SL.