The price recently touched a 24h low of 1.042, which is acting as immediate support. Entering in this zone catches a potential bounce from oversold levels.
Take Profit (TP) 1.110$EUL

EUL
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This target sits near the MA(7) and MA(25) lines on your chart, which are currently acting as dynamic resistance.
Stop Loss (SL) 1.025 Placed safely below the psychological support of 1.042 to protect against further breakdown if support fails.