The EURUSD has recently broken out of a significant 4-hour downtrend channel and is currently undergoing a retracement. During this retracement, a 15-minute uptrend parallel channel has emerged, only to break down subsequently. This breakdown is expected to lead to a retracement to fulfill the FVG (Former Validation Ground) created during the initial breakout. Following this retracement, the currency pair is anticipated to resume its downtrend, resulting in a substantial decline. Consider taking profit at the level of 1.07000.