The euro cannot go down, as the quotes continue to correct upwards and will soon reach the 50% Fibonacci level, that is, 1.2025. In this case, the price will overcome the technical strong level of 1.1990, which twice contained the attacks of buyers.
It can be seen from the hourly chart that the US dollar has been moving in an upward trend without any pullbacks for quite some time. Now it remains to identify the levels of a possible reversal and then enter the market. In this case, the best way to make a profit is to open short positions with pending orders.
In general, all we can do is follow the price dynamics below the level of 1.1990. Buyers are making every effort to hamper sellers’ attempts to change the pair's direction. A breakout of 1.1950 will be the first sign of an upcoming decline in quotes. Thus, now we need to see sellers' confidence and only then open short positions.
Have a profitable trading day!