EURUSD Hourly Consolidates In Downtrend

EURUSD is in the bearish area on the daily chart on the left. A bearish cross of EMAs and stochastic potentially align short-term traders with the daily. If signals occur, movement of stochastic to 20 level and maintenance of that level increase chance of a successful trade (blue arrow). Trend following indicators may be useful in this case as a potential exit tool. Stop above hourly resistance in conjunction with risk management techniques.