Here’s a possible trade plan to short E/U at the ‘No Fly Zone”
The 4 Hr can have a possible lower high in play sending it to a 38.2 fib of the recent rally from Aug 9th. Resistance cluster at M-R2 and W-M3 with an OB stoch are further reasons to watch this setup. Initial target could be the 38.2 or 1.1250 zone which yields a lower low. Longer term target this week could be W-M1.
Watch the trend here on the 5 min to hold below the 233 MA with the 4 HR 5 MA and stoch cycles. Let's see how this develops. Weakness in the E/G would help this setup if USD rallies.