This is long-term technical analysis and chart preview.
This year, the market made EURUSD below the 1.26, accurately at 1.256. Then the market created triangle pattern, which has been broken and make the euro bulls cry.
A few days ago, there has been set another triangle pattern, which also continued in the drop. Where we can fall?
We can see big pattern forming up from July 2017 till now, August 2018. I’m talking about Head and Shoulers pattern, this currently model is set “as bearish sign”. The neckline (support) 1.15-1.58 USD had been broken from daily, but also from weekly view. My opinion is, that the market will test the next Fibbo level near the 1.12 USD, but it is only my opinion, not trading advice. Any good fundament from Euro-area or bad news for US economy could “make quiet” technical analysis. For euro bulls, it will be very hard to break the red-area.
If we look at the fundamental analysis (shortly), the US president Donald Trump wants weaker dollar, interest rates in the US are slowly rising and it should continue (according to FED). In the Euro-market, the interest rates are still at low points and it should rise in the 2019.
This analysis is just my point of view and it is not investing advice. Only for education purpose. When trading, I recommend you to keep tigh your money and risk management.