EUR/USD (a 4-hour chart)
The pair continues working a "dead cross", having worked out the second support level the pair stopped at 1.3180. So far, we have a strong sell signal. The Chinkou Span is below the price and the price is at the Ichimoku cloud.
If the pair continues the downward movement, the first target will be the level 1.3180, which the pair has already started working out. If the pair consolidates below this level, the downward movement continues to the third level of support 1.3121.
The downward movement will be relevant as long as the price is below the Kijun-sen (1.3287). Once the price consolidates above this level, the downward movement might be cancelled.
The Chinkou Span is still lower the price. That is a strong confirmation of the current signal to sell.
Bollinger Bands show a continued downward movement.
MACD is down, confirming a downward movement. If the indicator turns up that might be a signal for a correction.
It is the best to open short positions, the first target is 1.3180. If the price is able to overcome this level, it will go to 1.3121.
Stop Loss is advised to place above the Kijun-sen 1.3287.
It is better to place take profit a bit above the target levels.
Do not forget to take into consideration the fundamental data, in addition to the technical analysis before opening orders.