EURUSD is in down trend. The fall 1.3681 extended to as low as 1.3411 further decline towards 1.3250 to reach the next cycle bottom on daily chart is still possible. Near term resistance is at the down trend line 1.3681 to 1.3609 only break above the trend line resistance will signal the reversal to the down trend. No changed in our long term view. The p topped at 1.3681 on weekly chart the rise 1.2865 (Jan 12 low) completed at 1.3681 level. Further fall towards the up trend line 1.1825 (Feb 27 2006 low) to 1.2483 (Oct 13 2006 low) to reach the next cycle bottom on weekly chart can be seen in the next several weeks.
http://www.forexcycle.com/eurusd.html