EURUSD is in down trend, further fall towards 1.2800 to reach the next cycle bottom on daily chart is still possible next week and the next cycle bottom is nearing. Near term resistance is at 1.3050, break about this level implies that the pair is bottoming on daily chart. Key support is now at 1.2800, break below this level indicate long term bearish movement is underway, and further fall towards the up trend line from 1.1825 to 1.2483 (now at 1.2737) can be expected in the next several days.
http://www.forexcycle.com/eurusd.html