When in 2016th the pair failed to develop its growth above 1.13, it quickly collapsed almost by 10% in the area of 1.0350. Slightly less drastic declines were also in February and October 2015th, when EURUSD has sharply bounced down to 1.05, after a breakthrough of support in the mentioned area. Among the technical factors should also be noted the formation “Head and Shoulders”, which is a signal of decline from the current levels. Simply put, EURUSD remains in a medium-term trend downward with possible targets on 1.03-1.05, or risks for months to remain in the range with support near 1.13.
However, the next few weeks promise to be very eventful with the potential impact on the pair.